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The Automobile Association is not expecting a rise in prices at the pump anytime this week, despite crude oil spiking a record US$25 on Monday.
Light, sweet crude for October delivery jumped US$25.45 to US$130 a barrel on the New York Mercantile Exchange before falling back to settle at US$120.92, a rise of US$16.37. But the market has since dropped to US$107 overnight.
AA spokesman Mark Stockdale said the fluctuation in crude oil has come through in the refined price but the strength of the New Zealand dollar has off-set any potential price rise.
He said it could take a week before any price rises are seen at the pump.
"The current movement is not of concern but it is what happens over the next few days," Stockdale said.
