Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Petrol Price Monitoring Good News For Consumers

Associate Energy Minister Paul Swain has launched a new web page within the MED website where people can compare international petrol and diesel price movements with changes in retail petrol prices in New Zealand.

The webpage (http://www.med.govt.nz/ers/oil_pet/prices/index.html ) is being maintained by the Ministry of Economic Development.

"I have taken up the issue of rising petrol prices and the impact it is having on consumers with the major petrol companies," Paul Swain said.

"As part of that process I asked MED to come up with a place where people could monitor for themselves what was happening with pricing here compared with price movements overseas," he said.

"By logging onto the web page people can see weekly averages of international petrol and diesel prices and make comparisons to prices at their local pump.

"One graph shows the weekly averages of Dubai crude oil prices and refined diesel and petrol prices for the period from January 1999 to the most recent week for which information is available.

"A second graph shows weekly averages of retail petrol price for regular unleaded petrol and the ex-refinery Singapore price for unleaded petrol. It will show how oil companies have responded to changes in the underlying cost of product.

"The Singapore spot petrol price series is based on 95 octane petrol, and although this is not the same grade of regular unleaded petrol sold in New Zealand (91 octane), it provides a close benchmark for monitoring price changes.

"Singapore is considered to be operating at industry best practice levels, and is widely used as a benchmark for pricing in the Asia-Pacific region.

"These will be good measures of how the industry is reacting to international conditions, and will let consumers see if they are getting value for money.

"I encourage people to use this web page so they can see for themselves whether local petrol prices fairly reflect what is happening overseas," Paul Swain said.

Ends

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

General Assembly: Ardern Rejects Trump Call For War On Drugs

New Zealand will not be signing the United States' document calling for global action on the war on drugs, Prime Minister Jacinda Ardern says.

Ms Ardern is in New York for the United Nations General Assembly this week, along with about 140 other world leaders.

US President Donald Trump is kicking off his week at the UN by holding an event to promote the US document called the Global Call to Action on the World Drug Problem. More>>

 

Pay Equity: Cabinet Funds Deal For Oranga Tamariki Social Workers

The Minister said that an agreement in principle has been reached between Oranga Tamariki and the PSA on a settlement worth $114.6m over five years. More>>

ALSO:

Hunting v Pest Control: Tahr Control Needed To Protect Alpine Habitats

A cull of introduced Himalayan tahr browsing conservation land in Kā Tiritiri o Te Moana/ the Southern Alps is needed to protect special alpine plants and their habitats, Conservation Minister, Eugenie Sage said. More>>

ALSO:

Protest At Sea: Judge Discharges Greenpeace Activists

The judge today discharged Norman and Howell without conviction, saying the cumulative consequences of a conviction would be out of proportion to what was “low level” offending off the Wairarapa coast in April 2017. More>>

ALSO:

Meth Testing Report: Housing NZ "To Right Wrong"

Phil Twyford “Housing NZ acknowledges that around 800 tenants suffered by either losing their tenancies, losing their possessions, being suspended from the public housing waiting list, negative effects on their credit ratings or, in the worst cases, being made homeless.” More>>

ALSO:

No Reshuffle: Meka Whaitiri Removed As A Minister

Meka Whaitiri will be removed as a Minister with immediate effect... The decision was made after receiving a report into an incident that occurred on 27 August in Gisborne, involving Meka Whaitiri and one of her staff. More>>

ALSO:

Asylum: Refugee Quota Increasing To 1500

“The quota increase will take place from July 2020. In the meantime, we will work to increase the number and spread of refugee resettlement and support services. We need to make sure we’re prepared for this change in policy.” More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels