Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Prices remain high despite the strong NZ dollar

Media Release: 5 March 2008

PetrolWatch – February 2008

Prices remain high despite the strong New Zealand dollar

Fuel prices remained at near record highs during February, with petrol rising 4 cents per litre during the month, and diesel effectively unchanged. By the end of February, 91 octane petrol was retailing for $1.75 per litre in the main centres, and diesel prices at the pump ranged from $1.26 to $1.29 per litre.

“The price rises followed increases in international refined petrol and diesel prices during February, which came on the back of crude oil prices again breaching the US$100 mark,” said AA Motoring Affairs General Manager Mike Noon.

“It’s small comfort, but the increase might have been greater if not for the rising exchange rate, with the New Zealand dollar gaining two cents against the falling American dollar over the same period.”

“The varying diesel prices indicate that there is some price competition in the market, and that motorists should always check the price boards before filling up.”

“2008 has seen a period of sustained high prices at the pump, with petrol prices consistently above $1.70 per litre for most of the last three months. Compare that to this time last year, when prices were around $1.44 per litre –that’s an extra $15 to fill a 50 litre tank,” says Mr Noon.

For tips on how to save fuel, go to www.aa.co.nz or www.fuelsaver.govt.nz.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Back Again: Government Approves TPP11 Mandate

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>

ALSO:

By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>

ALSO:

Snail-ier Mail: NZ Post To Ditch FastPost

New Zealand Post customers will see a change to how they can send priority mail from 1 January 2018. The FastPost service will no longer be available from this date. More>>

ALSO:

Property Institute: English Backs Of Debt To Income Plan

Property Institute of New Zealand Chief Executive Ashley Church is applauding today’s decision, by Prime Minister Bill English, to take Debt-to-income ratios off the table as a tool available to the Reserve Bank. More>>

ALSO:

Divesting: NZ Super Fund Shifts Passive Equities To Low-Carbon

The NZ$35 billion NZ Super Fund’s NZ$14 billion global passive equity portfolio, 40% of the overall Fund, is now low-carbon, the Guardians of New Zealand Superannuation announced today. More>>

ALSO: