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stevejar
By stevejar | Community user | 1 Post | 15 June 2011 at 3:41pm

How come the new 'Z' and Caltex have raised prices again? The price of oil is down over 5% still from recent highs (early May) and the NZD/USD is up over 1.5% since that time as well. I bet if you asked the fuel companies they would dredge up the old ' increase in the cost of refined petrol' excuse again, however hasnt the cost of shipping said fuels dropped dramatically in the last year as well?

Call me cynical but it just looks like gouging the poor old consumer again. Come on AA get more vocal!

markstockdale
By markstockdale | AA Expert | 101 Posts | 16 June 2011 at 4:52pm

The price of oil is up over US$5/barrel since the last retail price reduction on 24 May, which equates to about a 5 cent per litre increase, or about 2cpl when you factor in the increase in the NZ$ since then. Shipping costs are higher than a year ago and the commodity price for petrol is US$0.22 cents/litre higher than this time last year. The AA's monitoring of the oil company importer margin shows after the latest increase it is within the normal range.

For more information, read our commentary and monitoring data on the AA PetrolWatch page.

See also our comments in the Dominion Post.