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


PetrolWatch – February 2013: Fuel prices reach 6-month high

1 March 2013

PetrolWatch – February 2013: Fuel prices reach 6-month high

Motorists received a rude shock during late January and February, with petrol prices rising 11 cents a litre, or over 5 percent, in the space of a fortnight.

After increasing 4 cents on 31 January, petrol prices climbed another 7 cents to end February on $2.21 per litre in the main centres. This was the highest price since August 2012 and just 2 cents shy of the highest price ever recorded. Diesel prices rose 5 cents to finish on $1.55 per litre at most service stations, some 37 cents below the record diesel price in July 2008.

“Despite the strong exchange rate, retail prices rose sharply due to increasing commodity prices, with crude oil prices reaching their highest level since April 2012,” says AA PetrolWatch spokesperson Mark Stockdale.

“The last time oil prices were this high, we were paying $2.20 per litre for petrol, when the Kiwi dollar was worth 82 US cents and taxes were 2 cents lower,” Mr Stockdale added.

According to AA PetrolWatch, the imported cost of petrol rose 11 cents per litre, and diesel 7 cents, between 18 January and 13 February.

“However, at the end of February the imported cost of petrol fell nearly 4 cents per litre, and diesel 2 cents, despite a reduction in the exchange rate. At current commodity prices, the fuel companies’ importer margins have risen above average, so the AA would expect retailers to cut pump prices shortly,” Mr Stockdale said.

For more information, go to:


© Scoop Media

Business Headlines | Sci-Tech Headlines


Welcome Home: Record High Migration Stokes 41-Year High Population Growth

New Zealand annual net migration hit a new high in October as more people arrived from than departed for Australia for the first time in more than 20 years. More>>


Citizens' Advice Bureau: Report Shows Desperate Housing Situation Throughout NZ

CAB's in-depth analysis of over 2000 client enquiries about emergency accommodation shows vulnerable families, pregnant women and children living in cars and garages, even after seeking assistance from the Ministry of Social Development and Housing New Zealand. More>>


Speaking For The Bees: Greens Call For Neonicotinoid Pesticide Ban

The National Government should ban the use of controversial pesticides called neonicotinoids after evidence has revealed that even at low doses they cause harm to bee populations, the Green Party said today. More>>


Science Awards: NZAS Celebrate NZ Scientific Achievements

The Marsden Medal is awarded for a lifetime of outstanding service to the cause or profession of science, in recognition of service rendered to the cause or profession of science in the widest connotation of the phrase. This year’s medal is awarded to Dr Mike Andrews. More>>


Court Rules: Affco 'Unlawfully' Locked Out Meat Workers

The note says the full court found for the plaintiffs, "that is that the defendant locked out the second plaintiffs unlawfully and that it breached s 32 of the Act by acting otherwise than in good faith towards the plaintiffs while collective bargaining was still going on." More>>


New Bill Introduced: GST On Online Services

These measures are an important first step in the Government’s efforts to deal with increasing volumes of online services and other intangibles purchased from overseas suppliers that should, under New Zealand’s tax rules, be subject to GST. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news