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

 

Scoop Business: Govt Resisting Pressure To Pump More Cash Into Solid Energy

Prime Minister John Key says it is “not the government’s preferred option” to make a fresh capital injection into the troubled state-owned coal miner, Solid Energy, but dodged journalists’ questions at his weekly press conference on whether that might prove necessary... More>>

ALSO:

Lagest Ever Privacy Breach Award: NZCU Baywide Accepts “Severe” Censure In Cake Case

NZCU Baywide says that once it was found to have committed a breach of a former staff member’s privacy, it had attempted to resolve the matter... the censure and remedies for its actions taken almost three years ago are “severe” but accepted, and will hopefully draw a line under the matter. More>>

ALSO:

Scoop Business: PayPal Stops Processing Mega Payments; NZX Listing Still On

PayPal has ceased processing payments for Mega, the file storage and encryption firm looking to join the New Zealand stock market via a reverse listing of TRS Investments, amid claims it is not a legitimate cloud storage service. More>>

ALSO:

Housing Policy: Auckland Densification As Popular As Ebola, English Says

Finance Minister Bill English said calls by the Reserve Bank Governor for more densification in Auckland’s housing were “about as popular in parts of Auckland as Ebola” would be. More>>

ALSO:

Crown Accounts: NZ Government Deficit Smaller Than Expected In First Half

The New Zealand government's operating deficit was smaller than expected in the first six months of the financial year, as the consumption and corporate tax take rose ahead of forecast in December, having lagged estimates in previous months. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news