AA PETROL WATCH – November 2003

For Immediate Release
2 December 2003

AA PETROL WATCH – November 2003

AA Petrol Watch observed that fuel prices at the pump fell during the month of November, reflecting the continuing strengthening of the New Zealand dollar, and also the relative stability in the international oil price. The nation-wide average price for 91 Octane fell to 103.5 cents per litre in the later part of the month, compared with an average of 105.5 cents per litre at the end of October.

The importer margin for petrol varied between 10 and 11 cents per litre during the month, compared with the average for this year of around 12 cents per litre.

The nation-wide average price of diesel fell to around 58 cents per litre in the last week of November, compared with the average for October of 60.5 cents per litre.

“With the dollar remaining so strong and the stable international oil price, motorists will be expecting a further downward trend in the price at the pump as the holiday season approaches” said George Fairbairn, AA Director of Public Affairs today.

AA Petrol Watch will continue to monitor fuel prices and report on them regularly.

Ends.

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