Another Petrol Price Rise

Petrol and diesel prices in New Zealand service stations will move above $1 a litre with all four main oil retailers raising their prices.

Shell, BP and Caltex have all announced their petrol price rises of 3 cents a litre, with Mobil set to raise them a similar amount later tonight. !Challenge Petrol company says it is likely to raise prices tomorrow.

All companies have blamed the increasing world prices of crude oil coupled with the lower New Zealand dollar for the changes.

Meanwhile, three of the top four oil companies are facing potential fines up to $5 million each for price fixing.

Lawyers for Mobil, Shell and Caltex in an Auckland court where the companies face allegations they colluded to fix prices after they finished special carwash deals within a days of eachother in 1996.

© Scoop Media