Petrol prices hit record high
Thu, 23 Aug 2012 9:47a.m.
Petrol prices have soared to a record high, with most retailers increasing the price of 91-octane fuel to just under $2.23 a litre.
It's a cent higher than the previous record price, reached in May 2011.
AA spokesman Mark Stockdale says what motorists are experiencing is the usual kind of fluctuation expected with petrol prices.
"Recently we were fortunate that they went down a lot, they went down under $2 a litre," he told NZ Newswire.
"Now we've got to take some bad medicine and they've gone back up."
Mr Stockdale said the concern for motorists is where fuel price rises will end.
"We don't know the answer to that but there's no reason why they might not come down again," he said.
"I think ultimately though, if we actually look at the last 10 years, the trend is quite clear that fuel prices are going to continue to rise over time."
Petrol prices are sensitive to both local and international conditions, Mr Stockdale said.
"Fuel prices are very volatile, they're subject to a whole range of influences and that's because it's a finite resource and yet global demand is growing."
Independent retailer Gull is holding its prices for now.
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24/08/2012 8:30:31 a.m.
Its just typical National policies - Pay or go with out. If you can not afford it Tough!
23/08/2012 5:35:04 p.m.
Being held to ransom by govt tax on fuel.
23/08/2012 5:00:13 p.m.
A high petrol price isn’t all bad news. If you live in Auckland it provides relief from traffic congestion.
23/08/2012 2:43:17 p.m.
Being held to ransom by the oil companies again...
23/08/2012 2:14:45 p.m.
I really think the government is setting New Zealand up to fail. soon gas will be too expensive for companies to afford to deliver goods so shops etc will run out of supplies and the whole country will be thrown into anarchy, John keys however will still be driving around in his government car, with his government funded gas. When was the last time he filled his own car out of his own wallet.
23/08/2012 11:20:04 a.m.
that's not high, it was $2.23 in Twizel last week, so with this price rise it will be higher. one of the problems we have in NZ is AA is not longer fighting for the rights of people as they are in bed profiting from petrol companies. Thank goodness we have a high dollar or it would be far higher, right winston.
23/08/2012 11:16:12 a.m.
M Hubbert wrote:
"it's a finite resource and yet global demand is growing."
Glad to see this fact is being acknowledged in NZ media. Global oil discoveries peaked in 1967, production peaked in 2008, so you think the price is going to go up?
23/08/2012 11:03:45 a.m.
Yeah, yeah, damned AA spouting weak rubbish. They do NOT need to be this high! Its a volatile market...PFFT It is people being stupid and pushing the prices up for PROFIT. That is it. No other reason...even though they are making more money than any of them can ever, ever spend, they keep on keeping the market "volatile" and "subject to a range of influences, both local and international" pfft. Don't make me laugh... PROTEST!!!!!! (Yay for GULL. If there was a GULL near me I would go there)
23/08/2012 10:09:50 a.m.
yet more spin from the petrol companys!. we are being fooled' like the govt' ..fools us every day.
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