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

 


Fuel prices remain stable

Media Release: 3 December 2012

PetrolWatch – November 2012

Fuel prices remain stable
Fuel prices remained relatively stable during November, with petrol falling 3 cents per litre early in the month before rising 4 cents two weeks later, following increased tensions in the Middle East.

Overall, the price of petrol was up 1 cent by month end, to $2.13 per litre for 91 octane in the main centres, while diesel prices remained unchanged at $1.52 per litre at most service stations.

“Lower commodity prices led to the AA calling for a price cut in early November, and fuel companies dropped pump prices by 3 cents per litre on 5 November. Unfortunately, later in the month petrol commodity prices rose by over US$6 a barrel, partly offset by New Zealand’s strong exchange rate,” said AA PetrolWatch spokesperson Mark Stockdale.

“Normally at this time of year commodity prices begin rising due to stockpiling of heating fuel for the Northern hemisphere winter, but so far fuel prices remain relatively stable. Compared to this time last year, we are paying 6 cents per litre more for petrol, while diesel prices are down 9 cents per litre,” Mr Stockdale added.
Check premium fuel prices at the pump
The AA is warning motorists to check the price of premium fuels at the bowser after reports that one service station in Auckland was charging $2.40 per litre for 98 octane grade, 15 cents more than the national price of $2.25 per litre.

“Motorists need to be aware that there are two grades of premium fuel – 95 and 98 octane, with 98 octane fuel typically costing 8 cents more than 95 octane, and 16 cents more than 91 grade,” AA PetrolWatch spokesperson Mark Stockdale said. 98 octane is sold by some BP and Mobil stations, and Gull who retail an ethanol blend.

“It can be difficult for motorists to compare prices of premium fuels because service stations tend to only display the price of 91 octane on their price board. Therefore the AA advices people to check the price at the pump before filling up,” Mr Stockdale added.

The AA has called on the government to mandate the display of all fuel prices on the price boards to reduce confusion and facilitate price competition.

• For more information, go to: www.aa.co.nz/petrolwatch

Ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Media: Julian Wilcox Leaves Māori TV

Māori Television has confirmed the resignation of Head of News and Production Julian Wilcox. Mr Maxwell acknowledged Mr Wilcox’s significant contribution to Māori Television since joining the organisation in 2004. More>>

ALSO:

Genetics: New Heat Tolerant Cow Developed

Hamilton, New Zealand-based Dairy Solutionz Ltd has led an expert genetics team to develop a new dairy cow breed conditioned to thrive in lower elevation tropical climates and achieve high milk production under heat stress. More>>

Fractals: Thousands More Business Cards Needed To Build Giant Sponge

New Zealand is taking part in a global event this weekend to build a Menger Sponge using 15 million business cards but local organisers say they are thousands of business cards short. More>>

Scoop Business: NZ Net Migration Rises To Annual Record In September

New Zealand’s annual net migration rose to a record in September, beating government forecasts, as the inflow was spurred by student arrivals from India and Kiwis returning home from Australia. More>>

ALSO:

Scoop Business: Fletcher To Close Its Christchurch Insulation Plant, Cut 29 Jobs

Fletcher Building, New Zealand’s largest listed company, will close its Christchurch insulation factory, as it consolidates its Tasman Insulations operations in a “highly competitive market”. More>>

ALSO:

Scoop Business: Novartis Adds Nine New Treatments Under Pharmac Deal

Novartis New Zealand, the local unit of the global pharmaceuticals firm, has added nine new treatments in a far-ranging agreement with government drug buying agency, Pharmac. More>>

ALSO:

Crown Accounts: English Wary On Tax Take, Could Threaten Surplus

Finance Minister Bill English is warning the tax take may come in below forecast in the current financial year, as figures released today confirm it was short by nearly $1 billion in the year to June 30 and English warned of the potential impact of slumping receipts from agricultural exports. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news