Fuel prices drop 8 cents with more cuts due

Media Release: 1 OCTOBER 2013

PetrolWatch – September 2013

Fuel prices drop 8 cents with more cuts due

Petrol and diesel prices fell 8 cents per litre during September, and the AA says fuel companies should be cutting prices further.

The price of petrol fell to $2.17 per litre in the main centres, the lowest price since June, with diesel retailing for $1.52 per litre at most service stations by month end.

“After commodity prices spiked in August on fears of a possible US strike against the Syrian government, they have since fallen about US$6 a barrel, while at the same time the New Zealand exchange rate has risen 5 cents against the US dollar during September,” says AA PetrolWatch spokesperson Mark Stockdale.

“The AA’s analysis of imported petrol and diesel prices shows that by month end, imported costs had fallen about 12 cents per litre, so there is room for fuel companies to cut prices by at least another 4 cents per litre,” Mr Stockdale added.

New online tool to maintain tyre pressure
With high fuel prices, motorists are looking for ways to manage their fuel costs. One of the easiest ways is to top up the air in your tyres once a month. All tyres gradually lose air and AA tests have shown that under-inflated tyres can increase fuel consumption by 8%. That’s equivalent to wasting 17 cents per litre of petrol.

The Energy Efficiency and Conservation Authority (EECA) has recently launched an online tool to help motorists keep their tyres at the right pressure to save money as well as improve safety.

By entering a car’s number plate, the online tyre pressure tool provides the correct tyre pressure for that car. Motorists can top at their tyres for free at any service station.

The tyre pressure tool supplies information for cars built after 2000, and initially covers about 70% of these cars on New Zealand roads but will be updated over time. The tyre pressure tool was developed by EECA in partnership with the NZ Transport Authority and Z Energy.

•           To find out your tyre pressure, go to: www.energywise.govt.nz/tools/tyre-pressure

ENDS

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