May 2016 petrol and diesel prices


Petrol and diesel prices as at 27 May 2016

Fuel prices rose 3 cents per litre on Friday, with 91 octane knocking on the door of $2 a litre for the first time since last October. Petrol prices have increased 25cpl (14%) this year, with diesel up 33cpl (35%). But oil prices have risen 90% since the start of the year, with refined fuel prices up US$20 to US$65/barrel (up 44%), the highest since November. Notwithstanding, last week the imported cost of petrol only rose 1cpl, and diesel 3cpl, with margins on both fuels now above average. So the 3cpl increase was more than justified and the fuel companies again appear to be pre-empting expected further increases in commodity prices.   

Petrol and diesel prices as at 27 May 2016

  National fuel price
91 Octane 198.9
95 Octane 207.9
Diesel 125.9

 

Petrol and diesel prices as at 19 May 

Fuel prices have increased again, with petrol up 3 cents per litre, and diesel up 5cpl. Commodity prices have increased in the past week (up 4cpl on petrol and 3cpl on diesel), with the fuel companies seemingly anticipating the increase with last week’s pre-emptive retail price rise. They appear to be bullish again with this week’s increase, pushing margins up higher than is justified, especially on diesel. These are the highest prices since November 2015, with commodity prices also the highest since November.

Petrol and diesel prices as at 19 May

  National fuel price
91 Octane 195.9
95 Octane 204.9
Diesel 122.9


P
etrol and diesel prices as at 11 May

Fuel prices rose 3 cents per litre on 11 May, probably led by Z. Although oil prices are up, we can see no particular justification for this increase, as refined commodity prices have not moved much (although diesel is up about 1.5cpl), and the NZ$ remains steady too. To make matters worse, margins on both fuels were at the top end of the range so even if commodity prices had increased slightly, we’d have expected the fuel companies to absorb the increase, and we could have even been on the cusp of a price drop. A ‘please explain’ is in order from Z and the other fuel companies.

Petrol and diesel prices as at 11 May

  National fuel price
91 Octane 192.9
95 Octane 201.9
Diesel 117.9

 

Previous prices as at 6 May

  National fuel price
91 Octane 189.9
95 Octane 198.9
Diesel 114.9

 

 

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