Fuel prices hit record high
The national price for 91 octane is now $2.30/litre – the highest price ever recorded.
AA Motoring’s Mark Stockdale says the last increase in fuel prices, this time led by Z, went up four cents per litre.
“This brings the ‘national’ price of 91 octane to $2.30/litre, the highest price ever recorded – in nominal terms that is; as we note below, we’ve paid much more in real terms when you adjust for inflation.
“Plus the tax on petrol has now broken through the $1/litre barrier. And all this before Auckland Council is due to introduce a 10cpl regional fuel tax in July, and the Government a 3-4cpl increase in petrol excise later this year.”
Why have prices risen 23cpl in the last 2 months?
“International refined commodity prices have risen over 16 per cent since the last price cut in February due mostly to geopolitics,” says Mark, “while the NZ dollar has fallen nearly 5c against the US$.”
Petrol and diesel prices as at 18 May 2018:
National fuel price