Petrol up by 5 cents at most service stations

Most petrol companies yesterday increased the price of petrol by 5 cents a litre and diesel by 3 cents a litre.

The price increase brought 91 octane to $1.63.9, premium octane to $1.68.9 and diesel to $1.01.9 at BP, Caltex, Mobil and Shell.

Mobil spokesman Alan Bailey said the company had decided to raise the prices because there had been an increase in petrol and oil prices in the Singapore market and because other oil companies had also increased their prices.

Gull has not raised all its prices yet, with 91 octane at $1.57.9 and diesel at 97.9c. Its 98 octane is at $1.68.9.

Gull general manager Dave Bodger said if the market and the New Zealand dollar remained where they were, its prices were also likely to increase.

But there was a lot of volatility in the market and the company had decided to hold off raising its prices until at least tomorrow, he said.

Automobile Association spokesman Mark Stockdale said the increase was due to the international price of oil, which spiked late last week, and the high New Zealand dollar.

- NZPA