Petrol prices jump at the pumps

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Three major oil companies have raised petrol prices.

Mobil, Caltex and BP increased the price of 91 unleaded by 4 cents per litre, taking it to just under 210c per litre.

Z Energy, formerly Shell, has not yet put up its prices but said increases were likely.

A spokeswoman for Chevron New Zealand, which owns Caltex stations, told Radio New Zealand the price rise reflected market speculation over the chances of an economic recovery in the United States.

Gull says it will hold off increasing prices until at least Friday.

Gull General Manager Dave Bodger says its seven unmanned sites will keep prices under the $2 per litre mark at $1.999.


- NZPA