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

 


PetrolWatch – February 2014: Fuel prices rise

3 March 2014

PetrolWatch – February 2014: Fuel prices rise for the first time in two months

Fuel prices rose two cents per litre in late February, the first price change in six weeks. The price of 91 octane petrol rose to $2.18 per litre at most brands, with diesel rising to $1.52 per litre.

“It’s the first price increase in two months, and reflects increases in commodity prices since retail prices last changed in mid-January,” says AA PetrolWatch spokesperson Mark Stockdale. “Since then, the exchange rate has remained the same but the imported cost of fuel has risen $3-4 a barrel due in part to political unrest in Libya and Venezuela.”

“This time last year, motorists were paying $2.21 per litre for 91 octane petrol, and $1.55 per litre for diesel, with the exchange rate about the same.”

Mr Stockdale says that at current commodity prices, the imported cost of petrol makes up less than half of the retail price at 96 cents per litre. Taxes make up another 93 cents – two-thirds of which funds transport projects and ACC. By comparison, the imported cost of diesel is 99 cents per litre, so if excise tax was included in the price of diesel like it is with petrol (instead of Road User Charges), the retail price of diesel would be about $2.21/litre including GST.

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

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Constructions Builds: Consents Top $2 Billion For The First Time

Building consents reached a record $2 billion in March 2017, boosted by new homes and several big non-residential projects, Stats NZ said today. This was up 37 percent compared with March 2016. More>>

Other Stats:

Health: Work Underway To Address Antimicrobial Resistance

As part of a global response the Ministries of Health and Primary Industries have today jointly published ‘Antimicrobial Resistance: New Zealand’s current situation and identified areas for action’ to respond to the changing pattern of antimicrobial resistance in New Zealand. More>>

ALSO:

Employment: Vodafone Announces Family Violence Policy To Support Team

From today, any of Vodafone’s 3,000 workers affected by family violence will be eligible for a range of practical support, including up to 10 additional days of paid leave per year. More>>

Burning Up Over Saturn: Cassini's Grand Finale

With propellant running low, NASA scientists are concerned that the probe might accidentally crash into one of Saturn’s nearby moons, which could contaminate it with Earthling bacteria stuck to the spacecraft. Instead, the spacecraft will be safely "disposed" in Saturn's atmosphere. More>>

ALSO:

Our Fresh Water: Monitoring Report Confirms Serious Challenges For Rivers

• nitrogen levels are getting worse at 55 percent and getting better at 28 percent of monitored river sites across New Zealand • phosphorus levels are getting better at 42 percent and getting worse at 25 percent of monitored river sites across New Zealand More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news