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AA PetrolWatch – November 2005

AA PetrolWatch – November 2005

Fuel Prices for November

AA PetrolWatch notes that petrol prices fell throughout November. The month began with a national average for regular gasoline of just over $1.39 per litre. With successive decreases totalling 6 cents per litre by month’s end, the average national petrol price was approximately $1.33 per litre.

The price of diesel has also dropped since the AA’s October PetrolWatch. At the beginning of the month the national average price for diesel was $1.02 cents per litre. November saw a decrease of 8.9 cents per litre of diesel, to close at a national average of 93.3 cents per litre.

“Both decreases are great news for New Zealand motorists,” says AA Motoring Affairs Manager Mike Noon.

Christmas Wish

“Continuing the trend since September, November has seen continued falls in international crude and refined product spot prices and the New Zealand dollar is currently very strong. Petrol prices have been falling in response and motorists can start to feel more optimistic that prices are tracking in the right direction“

Mr Noon says that the AA welcomes the recent fall in diesel pump prices.

“That said however, this month’s diesel decreases were a long time coming, we had been waiting for them and were pleased when they came.”

“The AA’s ongoing monitoring of diesel and petrol margins reveals that further price reductions can be sustained by the importing companies. It is really important that savings flow through to pump prices as quickly as possible.”

“With the Christmas holidays fast approaching, it is an excellent time for petrol companies to pass on savings to motorists, they will be most welcome,” says Mr Noon.

ends

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