Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search


Unprecedented run of price drops

Media Release: 4 December 2008


PetrolWatch – November 2008

Unprecedented run of price drops

Pump prices continued their unprecedented run of reductions, with petrol falling six times and 29 cents during November, ending the month on $1.44 per litre. Diesel only fell 11 cents to $1.21 per litre in the main centres.

AA Senior Policy Analyst Mark Stockdale says “fuel prices continue to reflect international trends, with falling worldwide demand translating to lower crude and refined prices. But global demand for diesel is still stronger than petrol which is more price-sensitive – that’s why retail diesel prices have not fallen as much of late.”

According to AA PetrolWatch, petrol prices have fallen 75 cents since the peak in early July, with diesel down 71 cents. International refined petrol prices have dropped 57 percent since the beginning of the year, with diesel only down 35 percent.

At current prices, the average motorist will be saving about $45 per fill. That translates to nearly $800 a year for a typical 1.5-2.0 litre petrol car travelling 14,000km, or an annual saving of $520 for a small diesel.

“Petrol prices are now at their lowest point since February 2007,” says Mr Stockdale.

Crude oil prices, recently at less than US$50 a barrel, have not been this low since February 2005.

“Pump prices would be even lower if not for a substantial drop in the exchange rate. Despite that, international price reductions have been outpacing the fall in our dollar, which is why motorists continue to benefit from lower prices. How long it will continue is anyone’s guess, but Kiwi holidaymakers can expect to pay less for fuel this summer than they did last year,” says Mr Stockdale.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Implications Of The Travel Bubble

Amidst the coverage of the hugs and kisses and reunion tears one hates to be a killjoy… But there has been little attention paid to the pattern of travel we’re likely to see with the Trans-tasman bubble. Clearly, there has been a lot of pent-up demand for the Visiting Friends and Relatives (VFR) kind of travel which – while welcome on humanitarian grounds - will be of less benefit to our ailing tourism industry than say, holiday excursions and high-end business travel... More>>


Government: Border Exceptions Will See More Families Reunited

Hundreds more families who were separated by the border closure will be reunited under new border exceptions announced today, Immigration Minister Kris Faafoi said. More>>


National: Proposed Hate Speech Laws A Step Too Far

Reports of the Government’s proposed new hate speech laws go a step too far and risk sacrificing the freedoms New Zealanders enjoy, National’s Justice spokesperson Simon Bridges says. “The reforms are supposedly including protections to every ... More>>


Agriculture: Government To Phase Out Live Exports By Sea

The Government has announced that the export of livestock by sea will cease following a transition period of up to two years, said Agriculture Minister Damien O’Connor. “At the heart of our decision is upholding New Zealand’s reputation for high ... More>>


PM Ardern And PM Morrison: Commencement Of Two-Way Quarantine-Free Travel Between Australia And New Zealand

Joint Statement by Prime Ministers Scott Morrison and Jacinda Ardern Commencement of two-way quarantine-free travel between Australia and New Zealand Today, Australia and New Zealand have fulfilled their commitment to establish two-way quarantine free ... More>>

Claire Breen: ACC’s Policy Of Not Covering Birth Injuries Is One More Sign The System Is Overdue For Reform

Claire Breen , University of Waikato Recent media coverage of women not being able to get treatment for birth injuries highlights yet another example of gender bias in healthcare in New Zealand. More>>

Police: Police Accept Findings Of IPCA Report Into Photographs Taken At Checkpoint

Police accept the findings of a report by the Independent Police Conduct Authority (IPCA) relating to photographs taken at a checkpoint in Northland. On November 16, 2019, Police set up a checkpoint down the road from a fight night event in Ruakaka ... More>>





InfoPages News Channels