Petrol and diesel prices as at 21 August 2020

There have been two price increases during August, with all fuels rising 2 cents per litre (cpl) on 14 August and then 4cpl on 21 August, although not all service stations have raised prices. Whilst there has been some increase in commodity prices, the imported cost of petrol has only risen 4cpl in that time, and diesel less than 1cpl. Consequently, fuel company margins have risen.

Petrol and diesel prices as at 21 August 2020
  National fuel price
91 Octane 207.9
Diesel 133.9

 

Petrol and diesel prices as at 6 August 2020

There appears to have been a significant drop in the ‘national price’ of fuel, with petrol down 4 cents per litre (cpl) on 6 August, and diesel down 7cpl. However, these price drops were observed in Wellington, and a scan of prices elsewhere in NZ via the Gaspy app does not show much change in prices, so it is more likely to be localised price competition. There has also been no meaningful change in commodity prices or the exchange rate to explain this drop – in fact the landed cost of petrol rose 1cpl from the week before – and consequently margins have fallen. 

Petrol and diesel prices as at 6 August 2020
  National fuel price
91 Octane 201.9
Diesel 127.9

Previous prices as at 28 July
  National fuel price
91 Octane 205.9
Diesel 134.9

 

 

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