Petrol and diesel price review: 30 August 2013
Fuel prices have risen for the second time in a week (up 4 cents), led by Z.
It’s fair to say concerns about a US invasion of Syria have led to a spike in commodity prices (up US$6/barrel this week).
The AA’s monitoring of the imported costs of fuel shows the fuel companies have taken a major hit on their margin, and the outlook doesn’t look good. Oil prices are now at their highest level since February – when we were paying $2.21/litre (but the exchange rate was worth 5c more while taxes were 3c less).
Petrol and diesel prices as at 30 August
Petrol and diesel price review: 27 August 2013
Z increased the price of fuel by 3 cents per litre on 27 August. Oil commodity prices have slowly risen since the last price cut a fortnight ago, although refined petrol prices did not rise as much. Unfortunately, the kiwi dollar has since fallen 2 cents, so the combination of slightly higher commodity prices and a lower exchange rate equals higher imported fuel costs of about 2.5 cents per litre.
Petrol and diesel prices as at 27 August
Petrol and diesel price review: 13 August 2013
Petrol prices have fallen again, with BP leading a 3 cent price drop. There is no change to diesel prices. Commodity prices or exchange rates are little changed since the last price cut, but expectations are that global prices will fall due to increased supply. Despite imported costs remaining stable during the last fortnight, the importer margin (retail price less costs) on petrol has been at the top of the range so there was always room for movement as our earlier post suggested. By comparison, diesel margins are at the bottom of the range so no price cut is expected despite the positive outlook on commodity prices. This time last year we were paying $2.20/litre for 91 octane and $1.54/litre for diesel, and the exchange rate was about the same.
Petrol and diesel prices as at 13 August
Previous prices as at 30 July