Why Are Petrol Prices So High In Nz

If you own a car and you buy petrol or dieselthats how you fund new zealands transport system. Generally any international price changes are almost immediately passed on to the motorist. Z stations in whangamata and miramar hit 2129 cents a litre by 8am on wednesday.

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The poor pound to dollar exchange rates have also had a negative impact on the petrol prices in the uk.

Why are petrol prices so high in nz. The rising oil price together with a weaker pound is a punitive combination for anyone that drives regularly. The reason behind new zealands high petrol prices revealed. Nz petrol prices hit two year high of 213 a litre. Petrol prices hit eight month high as new zealand dollar sinks.

The reason for the outrageous petrol prices is the rising cost of oil. A question that is frequently raised is why the petrol price is so high when the cost of import price of crude oil is not that high. Kaitaia mobil z and bp stations had all raised 91 to 2099c by yesterday afternoon. The price in april 2018 is us 7790 per barrel.

Just because the price of oil has halved does not mean the price of refined petrol has and the new zealand dollar is substantially weaker now than it was a year ago offsetting some of the. The price of indian basket of crude oil has ranged from us 112 per barrel in 2011 12 to a low of us 46 per barrel in 2015 16. The fixed tax that petrol buyers pay goes into the national land transport fund paying for the maintenance of our roads upgrading roads and road safety improvements. In wanaka it costs almost 264 to fill up.

Prices have gone up 40c a litre in the past 12 months and the opposition has. The price of 91 octane fuel hit 230 per litre at some petrol stations today the most its ever cost in new zealand. Fuel industry headed for fresh date with the commerce commission. When the nz dollar falls pump prices rise because all fuel is purchased in us dollars.

The reasons for rising fuel prices. This works well for consumers when prices are falling and when there are both price rises and falls. Prime minister jacinda ardern says she hasnt been given a reasonable explanation why petrol costs so much now. Its a user pay system basically.

New zealand motorists living in wellington and parts of the south island remain frustrated at having to pay more for petrol than anyone else. The south island hasnt escaped the price hikes either with mobil aranui selling 91. But the price of petrol in australia are forecast to stay above a130 nz144 a litre for 2018 according to a national australia bank economist.