Motorists will be bracing themselves for another round of petrol price increases—not only because the government is increasing petrol tax by 3.5c a litre on October 1, but also because international crude prices are rising and the NZ dollar has depreciated around 13% since March.
Prices for West Texas and Brent crude have risen between 35% and 40% since this time last year. At the pump the national fuel price last month for 91 octane was $2.32 a litre, with prices of up to $2.50 in some regions.
Stations in Wellington and many parts of the South Island, and other areas which use the so-called “national price”, are now charging $2.409 a litre for regular petrol, the latest in a series of record highs seen in recent weeks.
Diesel prices, at $1.809, are at the highest level in just over a decade.
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