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

 


Fuel prices up, but should be coming down

PetrolWatch – April 2014

Fuel prices up, but should be coming down


Fuel prices rose during April, but the AA says retailers should be cutting prices.

After falling 2 cents per litre early in the month, petrol and diesel prices later rose 4 cents per litre during April. The price of petrol ended the month on $2.18 per litre for 91 octane at most brands, while diesel prices reached $1.50 per litre at most service stations.

“The last increase on 23 April was not justified in the AA’s opinion, and since then commodity prices have fallen while the exchange rate is still above 86 US cents,” says AA PetrolWatch spokesperson Mark Stockdale.

“Fuel companies should be reversing the last 2 cent increase now. The last time their margins – the difference between retail prices and costs – were this high, they cut pump prices.”

Premium fuel can cost 16c more than 91 octane
AA PetrolWatch also notes that the price difference between 91 and 95 octane petrol is 8 cents per litre, depending on brand. 98 octane petrol, sold by Gull and at selected BP and Mobil service stations, typically costs another 8 cents, or about 16 cents per litre more than 91 octane.

“Many motorists are unaware of the big price difference in the three petrol grades, as service stations tend to only advertise the price of 91 octane and diesel. For that reason, the AA has been lobbying the government to make it mandatory for fuel companies to publish the price of all fuels they sell on their price boards so motorists know what grades of fuel are sold, and at what price,” Mr Stockdale added.

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

Ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Inequality: Top 10% Of Housholds Have Half Of Total Net Worth

The average New Zealand household was worth $289,000 in the year to June 2015, Statistics New Zealand said today. However wealth was not evenly distributed, with the top 10 percent accounting for around half of total wealth. In contrast, the bottom 40 percent held 3 percent of total wealth. More>>

ALSO:

What Winter? Temperature Records Set For June 20-22

The days around the winter soltice produced a number of notably warm tempertaures. More>>

Conservation Deal: New Kākāpō Recovery Partnership Welcomed

Conservation Minister Maggie Barry says the new kakapo recovery partnership between DOC and Meridian Energy is great news for efforts to save one of New Zealand’s most beloved birds. More>>

ALSO:

Tech Sector Report: Joyce Warns Asian Tech Investors View NZ As Hobbits And Food

Speaking in Wellington at the launch of a report showcasing the value of the technology sector to the New Zealand economy, Joyce said more had to be done to tell the country's technology stories overseas. More>>

ALSO:

Mediaglommeration: APN Gets OIO Approval For Demerger Plan

APN News & Media has received Overseas Investment Office approval for its plan to split out its NZME unit ahead of a potential merger with rival Fairfax Media's New Zealand operations. More>>

New Paper: Ninety-Day Trial Period Has No Impact On Firms' Hiring

The introduction of a 90-day trial period has had no impact on hiring by New Zealand companies although they are now in widespread use, according to researchers at Motu Economic and Public Policy Research. More>>

ALSO:

Corrections: Serco Exits Equity Stake, Remains As Operator

Serco has sold its equity stake in the company that holds the contract to design, build and run Wiri Prison in South Auckland but continues as sub-contractor to operate the facility. More>>

GDP: NZ Economy Grows Faster-Than-Forecast 0.7%

New Zealand's economy grew at a faster pace than expected in the first quarter of 2016 as construction expanded at the quickest rate in two years. The kiwi dollar jumped after the data was released. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news