Petrol and diesel prices as at 24 September 2018

Fuel prices rose 2 cents per litre on 24 September which is completely unwarranted in the AA’s view. While there has been an overnight increase in crude oil prices, this has not translated to an increase in refined fuel commodity prices – yet. They may go up in the next day or so. To top it off, recently the NZ$ has actually gained a cent in the last few days, meaning that overall the landed cost of fuel has actually fallen. With the last price increase a fortnight ago also being unwarranted, margins are now well above average – the highest for over a year and fuel companies should really be cutting prices, not raising them. Don’t forget also that petrol prices will rise 4cpl on 30 September due to a scheduled tax increase – the first of three tax (excise) increases over the next three years to fund the government’s record (taxpayer) investment in land transport including a big boost to public transport (especially light rail) – all funded by motorists.

Petrol and diesel prices as at 24 September 2018
  National fuel price
91 Octane 240.9
95 Octane 249.9
Diesel 180.9

 

Petrol and diesel prices as at 12 September

There have been two prices in September so far, with petrol up a total of 6 cents per litre (cpl) and diesel up 4cpl. While there have been changes in commodity prices, and the NZ$ has fallen about a cent since the last increase in late August, these are not large enough to justify the pump price increases. Overall, fuel company margins are on the rise and it seems these price increases are unwarranted. Prices are likely to rise further with petrol tax increasing by 4cpl on 30 September.

Petrol and diesel prices as at 12 September
  National fuel price
91 Octane 238.9
95 Octane 247.9
Diesel 178.9
Previous prices as at 27 August
  National fuel price
91 Octane 232.9
95 Octane 241.9
Diesel 171.9

 

 

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