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


Gull Announces Hold on Prices Despite Declining NZ Dollar

Gull Announces Hold on Prices Despite Declining NZ Dollar

Auckland, 7th November 2017 – Gull today reinforced its commitment to providing value to kiwi motorists by announcing it will not follow in the footsteps of the oil giants, who increased prices again on Monday of this week.

Gull spokesperson, Mike Williamson, said, “The latest increase of 3c by the Majors on Monday, bringing the total rises to 9c over the last week appears to be a response to a weakening in the NZ / US exchange rate.”

“While the dollar has been slowly dropping over the last couple of weeks, we feel that this latest fuel price increase is a manifestation of the oil giants hedging their bets that it will continue to drop further,” says Williamson.

Gull is doing its best to limit those effects for motorists until the dollar stabilises.

“Being Kiwi-operated, Gull likes to hold a little more optimism for our local economy. And while prices have also increased for the cost of carbon, we have plenty ‘in the bank’ and don’t need to pass this on for now,” he continues.

“We won’t be following this latest price rise today and will re-evaluate over the rest of the week.”

At the majority of Gull outlets where Gull controls retail prices, average prices on Tuesday 7th November, 2017 are as follows:

Gull Regular (91 Octane) $1.865
Gull Force 10 (98 Octane) $2.016
Gull Diesel $1.143

Gull’s best price is currently available at Atiamuri, which on Tuesday 7th November is as follows:

Gull Regular (91 Octane) $1.787
Gull Force 10 (98 Octane) $1.937
Gull Diesel $1.057


© Scoop Media

Business Headlines | Sci-Tech Headlines


Barfoot & Thompson: Auckland Rental Prices Inch Up Again, But Upward Trend Could Ease In Coming Months

Data from nearly 16,000 rental properties managed by real estate agency Barfoot & Thompson shows Auckland’s average weekly rent rose by $6.12 (or 1 percent) during the second quarter... More>>

ComCom: Draft Report Says Regulatory System Favours Established Building Products
The Commerce Commission’s draft report into competition in the residential building supplies industry has identified two main factors negatively impacting competition... More>>

Statistics: Annual Wage Inflation Rises To 3.4 Percent
Wage inflation, measured by the labour cost index (LCI), was 3.4 percent in the year ended June 2022, while average ordinary time hourly earnings rose 6.4 percent, Stats NZ said today... More>>


APEC: Region’s Growth To Slow Amid Uncertainties And Crises
Economic growth in the APEC region is expected to slow this year amid soaring inflation, a protracted war in Ukraine and heightened uncertainties, on top of the continuing impact of the pandemic and virus mutations that are draining resources, according to a new report by the APEC Policy Support Unit... More>>

Financial Markets Authority: Survey Sheds Light On New Zealanders’ Experiences With Financial Sector
Most New Zealanders are confident in their ability to make financial decisions, but only one-fifth say they are in a secure financial position... More>>

ASB: Latest Trade Disruption Report: Low Export Demand And High Import Prices Look Set To Continue

After a strong initial recovery from the effects of COVID-19 in 2021, New Zealand is likely to feel the impact of slowing global trade well into 2023, according to ASB’s latest Trade Disruption economic report... More>>