INDEPENDENT NEWS

7 October 2004 AA PETROL WATCH – September 2004

Published: Thu 7 Oct 2004 03:49 PM
7 October 2004 AA PETROL WATCH – September 2004
AA Petrol Watch noted that petrol prices remained at a high but relatively stable level throughout September, despite an increase in the international oil price and some variation in the exchange rate.
In most main areas the pump price of 91 Octane varied between 118.5 and 120.9 cents per litre and 96 Octane varied between 124.5 and 126.9 cents per litre.
There was however an increase in diesel prices during September, with the pump price increasing by 4 cents per litre in most main centres from an average of 78 cents per litre in the early part of the month to reach 82 cents by month’s end.
The AA today noted that international oil prices would likely remain high in the near future meaning high pump prices.
“Motorists want fuel retailers to signal to them when they intend to increase their pump prices prior to making those price increases to provide them with an opportunity to fill their tanks at a lower price” Darren Baars, AA Motoring Policy Analyst said today.
Mr Baars went on to say “Motorists are also expecting to see that the effects of good competition in the fuels retail market and the present high exchange rate will ensure that fuel prices do not reach excessive levels in the future”
The AA also noted that despite high crude oil prices, much of the current cost of petrol reflects the taxes collected by the Government (see attached graphic), with less than half of that tax revenue collected actually being spent on essential transport infrastructure and road safety activities. This tax includes GST, the collection of which by the Government increases as the pump price for fuels increases. AA Petrol Watch will continue to monitor petrol prices and report on them regularly.
ENDS

Next in Business, Science, and Tech

Grey Power Is Disappointed To Learn Of More Bank Closures
By: Grey Power New Zealand
Supply Chain On Brink Of Overload Says National Road Carriers
By: National Road Carriers
Supermarkets Announced As Government’s Second Market Study
By: New Zealand Government
Retail Sales Recover In The September 2020 Quarter
By: Statistics New Zealand
New Zealand Flies Into The Stratosphere
By: Kea Aerospace
Births And Deaths: Year Ended September 2020
By: Statistics New Zealand
Okay Boomer: Kākāpō Wins Bird Of The Year 2020
By: Forest And Bird
BNZ Optimistic About Year Ahead
By: BNZ
Market Study Of Supermarkets ‘positive’ For Shoppers, Manufacturers
By: NZ Food and Grocery Council
Consumer NZ Welcomes Supermarket Investigation
By: Consumer NZ
Supermarket Inquiry Should Look At Govt’s Role
By: New Zealand National Party
Māori Population Estimates: At 30 June 2020
By: Statistics New Zealand
View as: DESKTOP | MOBILE © Scoop Media