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

 


High Kiwi$ results in lower pump prices

PetrolWatch – January 2014


High Kiwi$ results in lower pump prices

Retail petrol fuel prices fell 4 cents per litre during January, and diesel 6 cents, largely reversing December’s increases. The price of 91 octane petrol fell to $2.16 per litre in the main centres, with diesel falling to $1.51 per litre at most service stations.

“Refined fuel commodity prices rose sharply in December, leading to a 5 and 4 cent per litre increase in petrol and diesel prices respectively. But come January, commodity prices fell while the New Zealand exchange rate rose 2 cents, reaching a 9-week high,” says AA PetrolWatch spokesperson Mark Stockdale.

Compared to the end of December, petrol commodity prices fell just over 4 cents per litre. At the same time, the cost of importing diesel fell nearly 6 cents per litre.

“While fuel companies have passed on commodity price reductions, the importer margin for diesel is above average compared to petrol and in the AA’s view, there is room for them to cut diesel pump prices by at least two cents,” Mr Stockdale added.

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

Ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Gordon Campbell: On Tiwai Point (And Saying “No” In Greece)

Its hard to see how Rio Tinto’s one month delay in announcing its intentions about the Tiwai Point aluminium smelter is a good sign for (a) the jobs of the workers affected or (b) for the New Zealand taxpayer. More>>

ALSO:

Half Empty: Dairy Product Prices Extend Slide To Six-Year Low

Dairy product prices continued their slide, paced by whole milk power, in the latest GlobalDairyTrade auction, weakening to the lowest level in six years. More>>

ALSO:

Copper Broadband: Regulator Set To Keep Chorus Pricing Largely Unchanged

The Commerce Commission looks likely to settle on a price close to its original decision on what telecommunications network operator Chorus can charge its customers, though it probably won’t backdate any update. More>>

ALSO:

Lower Levy For Safer Cars: ACC Backtracks On Safety Assessments

Dog and Lemon: “The ACC has based the entire levy system on a set of badly flawed data from Monash University. This Monash data is riddled with errors and false assumptions; that’s the real reason for the multiple mistakes in setting ACC levies.” More>>

ALSO:

Fast Track: TPP Negotiations Set To Accelerate, Groser Says

Negotiations for the Trans-Pacific Partnership will accelerate in July, with New Zealand officials working to stitch up a deal by the month's end, according to Trade Minister Tim Groser. More>>

ALSO:

Floods: Initial Assessment Of Economic Impact

Authorities around the region have compiled an initial impact assessment for the Ministry of Civil Defence, putting the estimated cost of flood recovery at around $120 million... this early estimate includes social, built, and economic costs to business, but doesn’t include costs to the rural sector. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news