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Home / New Zealand

91 unleaded petrol hits $2 a litre

NZPA
22 May, 2008 06:11 AM2 mins to read

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KEY POINTS:

Unleaded 91 octane petrol has hit $2 a litre throughout the country.

BP was the first to put its prices up and Caltex followed later today.

Caltex spokeswoman Sharon Buckland said the price of 91octane unleaded had gone up 4c to $2.00.9 a litre, 95 to $2.05.9/l and
diesel up 6c to $1.73.9/l.

She said the rise was due to an international increase in the price of oil of US$8 a barrel in the last 48 hours.

Gull Petroleum's general manager Dave Bodger said Gull had not put up its prices and would not do so before tomorrow morning.

"It's our attitude to see whether it is a sustained increase and not a spike in the oil price (before putting up its prices)."

Shell also did not rise its prices.

Shell spokeswoman Jackie Maitland said it had reviewed prices and was holding its 91 unleaded prices at $1.96.9 a litre at 5pm today.

She said Shell and the Ministry of Economic Development held a meeting today to discuss improving public understanding of how petrol pricing works.

"We're aware people are concerned."

AA spokesman Mike Noon told NZPA BP was the first to put its prices up.

"This rise means 91 has gone up 7c this week and diesel 12c. We're just really disappointed to see yet another, and such a big, increase. We're concerned about the effect on motorists and the economy."

Unleaded petrol had increased 43c since last May and diesel 70c, Mr Noon said.

He said it was a good time for motorists to shop around while there was still a difference in prices, as at 5pm today.

"We think people are already doing what they can in terms of saving petrol. The car is important for work, recreation and social connectivity. People have little choice but to pay the increased prices."

Those with lower incomes and living in rural areas were impacted more than others, Mr Noon said.

He reminded people with a "heavy right foot" that they can save 20-30 per cent of their petrol if they slow down and do not brake and accelerate heavily.

Calls to BP and Mobil went unanswered tonight.

- NZPA

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