Our blog features motoring news, tips and expert advice bought to you by the AA Motoring team.
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).
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.
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.