Our blog features motoring news, tips and expert advice bought to you by the AA Motoring team.
Diesel prices were up 4 cents per litre on 22 November – the third increase in 11 days, totalling 14 cents per litre.
Since oil prices fell as low as US$102 a barrel in early October – down US$12/barrel since mid-September when retail prices last rose – they have since climbed back to about US$112/barrel for Brent blend which is the appropriate benchmark price for crude oil for the New Zealand market.
Oil commodity prices have recently fallen US$10 a barrel, which so far has translated to a US 4c/litre drop in the market price of refined fuels (refined fuel price movements generally lag oil price movements by one day).
The price of petrol increased 4 cents per litre on 29/30 August. Since the last increase the imported cost of petrol is up over 2 cents per litre.
With the exchange continuing to rise in the past week, and knocking on the door of US$0.88, imported costs have fallen about 1 cent per litre since the retail price drop on 21 July .
“Can the AA suggest ways to make my fuel dollars stretch further? Answer: “Yes we can!” Here's how:
At last, retail prices have dropped following large falls in the price of oil during the past week or so.
Fuel prices fell four times during May, after the price of 91 octane petrol earlier reached a record high of $2.22 per litre at the start of the month. It's the first price reductions since August 2010.
Factors that can affect fuel consumption include:
A little love goes a long way. Regular servicing, the right tyres for the conditions, correct tyre pressure and wheel alignment make a difference. A well-maintained car can use 10 to 20% less fuel than an inadequately maintained one.