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

 

BusinessDesk: APN's NZME Sees Future In Paywalls, Growth In Digital Sales

APN News & Media has touted a single newsroom concept for its NZME unit in New Zealand, similar to what Germany's Die Welt uses, saying an 'integrated sales proposition' is helping it win market share, including ... More>>

Labour Party: Global Milk Prices Now Lowest In 6 Years

The latest fall in the global dairy price has brought it to the lowest level in six years and shows there must be meaningful action in tomorrow’s Budget to diversify the economy, says Labour’s Finance spokesperson Grant Robertson. “Dairy prices ... More>>

BusinessDesk: NZ Inflation Expectations Creep Higher In June Survey

May 19 (BusinessDesk) - New Zealand businesses lifted their expectations for inflation over the next two years, sapping any immediate pressure on the Reserve Bank to cut interest rates, and prompting the kiwi dollar to jump higher. More>>

BusinessDesk: Lower Fuel Costs Drive Down NZ Producer Input, Output Prices

May 19 - Producer input and output prices fell in the first quarter, mainly reflecting lower fuel costs and weakness in prices of meat and dairy products. More>>

Media: Fairfax Media NZ Announces Senior Editorial Team

Fairfax Media New Zealand has today confirmed its new editorial leadership team, as part of a transformation of its newsrooms aimed at enhancing local and national journalism across digital and print. More>>

Science: Flavonoids Reduce Cold And Cough Risk

Flavonoids reduce cold and cough risk Research from the University of Auckland shows eating flavonoids – found in green tea, apples, blueberries, cocoa, red wine and onions – can significantly reduce the risk of catching colds and coughs. The research, ... More>>


BusinessDesk: RBNZ House Alert Speech The Catalyst For Government Action

Prime Minister John Key all but conceded that pressure from the Reserve Bank of New Zealand for concerted action on rampant Auckland house prices was one of the main catalysts for the government's weekend announcements about tightly ... More>>

BusinessDesk: How To Fall Foul Of The New Housing Tax Rules: Tips From IRD

Just because you rented out your investment property doesn't absolve you from paying tax, says the Inland Revenue Department in a summary of commonly made mistakes by non-professional property investors when it comes to their tax liability.More>>

Legal: Superdiversity Law, Policy And Business Stocktake Announced

Mai Chen, Managing Partner at Chen Palmer New Zealand Public and Employment Law Specialists and Adjunct Professor of Law at the University of Auckland, today announced the establishment ... More>>

Housing: More House Price Gains Expected

House price expectations remain high, with a net 56% of respondents expecting house prices will increase. Fears of higher interest rates are fading, consistent with the RBNZ’s signals this year. Affordability and a lack of houses for ... More>>

TDDA: State-Of-The-Art Drug Testing Laboratory To Open In Auckland

World leading drug testing agencies, The Drug Detection Agency (TDDA) and Omega Laboratories, open New Zealand laboratory More>>

Network: Bigpipe Launches Ultra-Fast Broadband Into Wellington

Bigpipe Launches Ultra-Fast Broadband into Wellington Naked broadband provider Bigpipe has extended its national reach, announcing today, the launch of its unlimited UFB offering into Wellington. The Spark Venture business is giving Wellingtonians the ... More>>

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news