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

 

Scoop Business: NZ Wool Exports Jump To The Highest In More Than A Decade

New Zealand wool exports jumped to their highest level in more than a decade in June, aided by a lower currency and strong demand from China, the nation’s largest market. More>>

ALSO:

Surreal Estate: Home Values Rise At Fastest Rate In Seven Years

The latest monthly QV House Price Index shows that nationwide residential property values for July have increased 10.1% over the past year which is the fastest annual rate since 2007... The Auckland market has increased 18.8% year on year. More>>

ALSO:

New Employment Laws: Talley’s AFFCO Workers To Strike

The decision comes after the Talley’s owned company walked away from mediation last week and applied to end bargaining under the government’s new employment laws - the first such application since the law came into effect. More>>

ALSO:

Private Action: Employer Pleads Guilty Over Forestry Death

The CTU has always known that the death of forestry worker Charles Finlay was due to the poor health and safety practices of his employer... "The CTU, with the support of Charles’s family, needed to take this ground breaking private prosecution." More>>

ICT Innovation: Six NZ Finalists In World Summit Awards

The awards are a global showcase of 40 projects, across eight categories, with a special emphasis on those which show the benefits of information and communication technology for the development of communities. New Zealand has finalists in six of the eight categories. More>>

ALSO:

Final Frontier: Rocket Lab And NASA Sign Commercial Space Launch Agreement

Rocket Lab has signed a Commercial Space Launch Act Agreement with the National Aeronautics and Space Administration (NASA). The agreement enables Rocket Lab to use NASA resources - including personnel, facilities and equipment - for launch and reentry efforts. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news