Motorists brace for higher fuel taxes while the govt paves the way for more cycling

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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