PetrolWatch July 2006

Prices soar to new high

Petrol prices rose six cents halfway through July, to $1.77 per litre for 91 octane, the highest price yet recorded. The price of diesel rose four cents at the same time, to end the month at $1.28 per litre.

 

1 August 2006

PetrolWatch July 2006

“The latest rise is largely due to increasing tensions in the Middle East, which have caused the international prices for both petrol and diesel to increase,” says AA Motoring Affairs General Manager Mike Noon.

“If anything, motorists were insulated a little from further price rises by our exchange rate, which recovered nearly 2 cents in July. That said, the increasing tensions in the Middle East mean nervous speculation over fuel supply continues, so it is not a time to relax.”

Petrol is now 38 cents more expensive per litre than at the beginning of the year, and diesel 32 cents more expensive per litre, according to the AA.

The faster you go, the more it costs

Motorists can achieve more economical motoring by driving smoothly and avoiding unnecessary hard acceleration.

“A relaxed driving style can save up to 25 per cent in fuel. The AA encourages motorists to relax their driving style a bit, drop the speed, arrive safely and leave a few more dollars in their pocket rather than at the service station,” says Mr Noon.

For more information contact

Mike Noon
General Manager – Motoring Affairs
New Zealand Automobile Association
T. +64 4 931 9984
F. +64 4 931 9964
M. +64 21 659 704
E. mnoon@aa.co.nz

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