AA PetrolWatch - February 2007

1 March 2007

AA PetrolWatch - February 2007

Petrol up, diesel down

Petrol and diesel prices both jumped six cents per litre in early February, although diesel later fell back four cents, with prices ending the month on $1.44 per litre for 91 octane petrol, and 0.96c per litre for diesel in the main centres.

"We were disappointed with the increase, which followed a period of record low crude prices in early January, however we recognise that stronger international refined product prices did not enable significant price decreases to be passed onto motorists," said Mike Noon, General Manager of the AA's Motoring Affairs.

"We're pleased to see diesel prices fall. We understand the lower diesel prices are due to a fall in demand in the USA following the end of their winter, but so far international refined petrol prices have risen, fortunately offset by our strong dollar," Mr Noon added.

AA PetrolWatch also recorded more regional variation in petrol prices, particularly in Auckland, Hamilton, Bay of Plenty, New Plymouth, Manawatu and Wanganui, which were up to three cents per litre less.

"The price discounting has been led by Gull, and we encourage motorists in those regions to shop around for the best deal. However, we think if oil companies in those locations can afford to discount, then the savings could be passed onto motorists throughout the rest of New Zealand," Mr Noon said.

The AA reminds motorists that the best fuel savings come not from lower prices or supermarket discounts, but by driving more economically. For helpful tips on how you can reduce your fuel costs, visit AA Online: www.aa.co.nz or go to: www.fuelsaver.govt.nz

ENDS

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