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


Fuel prices fall, but not far enough

Media Release: 1 April 2014
PetrolWatch – March 2014
Fuel prices fall, but not far enough

Fuel prices fell during March, but the AA says retailers should be cutting prices further.

The price of petrol fell 2 cents to $2.16 per litre for 91 octane at most brands during the month, the lowest price since November. Diesel fell 4 cents per litre to $1.48 per litre at most service stations, the lowest price for diesel since May 2013.

“The New Zealand exchange rate is at its highest level for two-and-a-half years and, since retail prices last fell a fortnight ago, commodity prices have dropped slightly,” said AA PetrolWatch spokesperson Mark Stockdale.

“The last time fuel company margins – the difference between retail prices and landed costs – were this high, fuel companies cut pump prices and the AA says it is overdue for retail prices to fall again. Margins on petrol are at their highest level in six months, so fuel companies should be passing on their cost savings to motorists.

“The AA estimates there is scope for fuel companies to cut petrol prices by about 3 cents per litre, and although diesel prices fell more during March, there is also room for another reduction in diesel prices,” Mr Stockdale added.

• 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>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news