Petrol and diesel prices as at 30 January 2020

A couple of price cuts in the last week of January saw the pump price of petrol drop by a total of 6 cents per litre (cpl), reflecting commodity price drops. But there was no drop in the diesel pump price, which there should have been, as diesel commodity prices have also fallen a similar amount, leaving margins above average. In the past week, the petrol commodity price fell 4cpl (adjusted to NZ$ - which also fell), while the diesel commodity price fell 5cpl. Since the beginning of the year, the global petrol and diesel commodity prices have fallen by about 11cpl in NZ$, while petrol pump prices have also dropped 11cpl but diesel only 3cpl so clearly diesel prices need to fall further.

Petrol and diesel prices as at 30 January 2020
  National fuel price
91 Octane 229.9
95 Octane 238.9
Diesel 163.9

 

Petrol and diesel prices as at 24 January 2020

The price of petrol and diesel has fallen several times during January, with petrol ultimately falling 5 cents per litre (cpl) and diesel 3cpl. Both fuels rose 2cpl at the very start of the year after global commodity prices increased at the very end of December, but since then commodity prices have fallen on several occasions, with the landed price of petrol falling 7cpl and diesel 6cpl since the start of the year. The pump price reductions have not been enough and clearly there is room for them to fall further as margins are above average, although this measure doesn’t take into account the wide range of price discounting – nevertheless the AA expects retail prices to fall. 

Petrol and diesel prices as at 24 January 2020
  National fuel price
91 Octane 235.9
95 Octane 244.9
Diesel 163.9

Previous prices as at 27 December 2019
  National fuel price
91 Octane 238.9
95 Octane 247.9
Diesel 164.9

 

 

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