Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search

 

Higher dollar means petrol prices should fall

PetrolWatch – July 2011

Higher dollar means prices should fall

Fuel prices ended July one cent higher than the beginning of the month, with 91 octane closing at $2.07 per litre and diesel $1.47 per litre in the main centres.

Fuel prices increased 4 cents per litre earlier in the month but dropped 3 cents a week later on the back of a stronger exchange rate.

“Motorists have seen the value of the Kiwi dollar climb 4 cents against the US dollar during July, but since the last price drop we have not seen the full benefit of the rising dollar passed on at the pump,” says AA PetrolWatch spokesperson Mark Stockdale.

“Diesel prices in particular are too high, and even though commodity prices have risen 8 per cent during the month, the strong exchange rate has offset these increases. With the New Zealand dollar at record highs, motorists expect lower fuel prices, and at current importer margins fuel companies can afford to drop them,” Mr Stockdale added.

Australian motorists exempt from carbon tax

Australian Prime Minister Julia Gillard has confirmed that Australia’s new carbon tax, due to be implemented in July 2012, will not apply to fuel for individual motorists because the Government believes drivers are already struggling with high fuel prices.

An A$25 a tonne carbon tax would have added about six cents a litre to the cost of fuel. In New Zealand, the Emissions Trading Scheme imposes a cost of about 3 cents per litre, but once the current two-for-one deal is lifted in 2013, this could rise to 6 cents per litre at current carbon prices.

“In Australia, the current retail price of 91 octane is under A$1.40 per litre, thanks to lower fuel taxes and a higher exchange rate. If it’s good enough for Australia to exempt fuel from a carbon tax, then it’s certainly good enough for New Zealand,” says AA PetrolWatch spokesperson Mark Stockdale.

“The AA believes that an emissions tax on fuel is unnecessary as higher fuel prices are already encouraging motorists to reduce their fuel consumption and therefore carbon dioxide emissions.”

• For more information, go to: www.aa.conz/aapetrolwatch

ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Supermarket Scam, And On Tunisia’s Scrapping Of Democracy

Are we paying too much for our groceries? Hmm. Is the Pope a Catholic? Given that the two Australian supermarket chains that dominate our grocery industry routinely rack up profits in the order of $22 billion annually, that’s a no-brainer. Yet as with New Zealand’s other socio-economic problems created by our 1980s reforms, the practical solutions seem pretty thin on the ground... More>>

 



Government: Bill Introduced To Protect Against Conversion Practices

Legislation has been introduced to Parliament to protect against practices intended to change or suppress someone’s sexual orientation, gender identity, or gender expression... More>>

ALSO:

Government: Welcomes Draft Report On The Retail Grocery Sector

The Commerce Commission’s draft report into the retail grocery sector is being welcomed by Government as a major milestone. “I asked the Commerce Commission to look at whether this sector is as competitive as it could be and today it has released its draft report for consultation,” Commerce and Consumer Affairs Minister, David Clark said... More>>

ALSO:

Child Poverty Action Group: Poverty Burden For Children Increased Due To Government Neglect - New Report

Poverty, inequity, homelessness and food insecurity are among the burdens which increased for tamariki Māori and other children in the first year of Covid-19 - partially due to Government neglect... More>>



NZUS Council: Welcomes Nomination Of Senator Tom Udall As US Ambassador To NZ

The NZUS Council welcomes the nomination of Senator Tom Udall to the role of US Ambassador to New Zealand and Samoa, NZUS Council executive director Jordan Small said... More>>

BusinessNZ: Visa Extensions Welcomed
BusinessNZ has welcomed the extension of some critical skill visa durations and changes to immigration systems to speed processing. Chief Executive Kirk Hope says move acknowledges advocacy by the hospitality sector, the BusinessNZ Network and others, and comes not a moment too soon.... More>>



Social Development: Government Initiatives Contribute To Fall In Benefit Numbers

Minister for Social Development Carmel Sepuloni has welcomed the release of the June quarter Benefit Statistics which show a continuing fall in the number of people receiving a Main Benefit... More>>


 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels