Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

AA PETROL WATCH - October 2004

3 November 2004

AA PETROL WATCH - October 2004

AA Petrol Watch observed that fuel prices remained at high levels during October, with the pump price for 91 octane reaching a record high of 125.9 cents per litre in many main centres. 96 octane sold for as much as 130.9 cents per litre in some main centres during the month.

Diesel prices also reached an all time high, selling for as much as 84.9 cents per litre in some areas.

These high fuel prices continued to reflect the all time high of the international price for oil and allowing for some variation in the exchange rate.

The importer margin for petrol maintained a level of between 12.5 and 14 cents per litre.

In the wake of continuing high fuel prices, the Association today raised its concern about the pricing of premium grade petrol by fuel retailers.

It is noted that retailers in some parts of the country are now offering a range of premium grade petrol varying between 96 and 98 octane, but that there is a lack of consistency in the pricing of these fuels. 96 octane typically sells at a price between 5 and 6 cents greater than 91 octane, but 97 and 98 octane pump price in some locations is an additional 5 cents per litre more than the pump price for 96 octane.

“Inconsistencies between the pricing of higher octane fuels raises motorists doubts about the fairness of the pricing approaches being employed. Motorists want to see the effects of competitive pricing in the fuels market, especially with the overall pump price being so high due to the international oil price” George Fairbairn, AA Director of Public Affairs said today.

It was also noted that some retailers were failing to clearly show the octane level of the premium grade petrol they are selling, which was confusing some consumers.

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

ENDS


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 


Commerce Commission: Appeals Record $2.25m Fine In Vodafone FibreX Case

The Commerce Commission has filed an appeal in the High Court against a record $2.25 million fine imposed on Vodafone NZ Limited (Vodafone) for its offending under the Fair Trading Act during its FibreX advertising campaign. While the sentence imposed in the Auckland District Court on April 14 was the largest-ever fine under the Fair Trading Act, the Commission will argue that it is manifestly inadequate... More>>



All District Health Boards: Historic Pay Equity Settlement

An historic agreement has been ratified that addresses a long-standing undervaluation of a workforce that is critical to the smooth running of our hospitals and the delivery of healthcare... More>>


MPI: Dry Autumn In Waikato And South Auckland Leads To Drought Classification Drought conditions affecting the primary sector in the Waikato and South Auckland were today classified as a medium-scale adverse event, enabling a package of support for farmers and growers... More>>


Barfoot & Thompson: Rents Up By Around 3% In Most Areas

The average weekly rent paid for homes in most areas of Auckland has risen by around 3 percent year-on-year. The figures for end March from more than 16,000 properties... More>>


DoC: Smeagol The ‘Gravel Maggot’ Leaves Its Rare Mark On The Remote West Coast
An extremely rare species of sea slug or ‘gravel maggot’ has been detected for the first time on a remote beach in South Westland... More>>



Immigration: Annual Net Migration Loss Of 7,300

The provisional net loss of 7,300 people in the year ended March 2022 was the lowest net migration for a March year since 2012, Stats NZ said today... More>>