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don't know whether Oil co's in N.Z. are doing the same as what was happening in U.K.;
spiking oil prices & keeping prices high by selling to themselves @ inflated prices & buying up stocks to keep supply @ what ever level they wanted;
or whether everybody is just paying for BP's F# up in Gulf & subsequent court fines;
after oil prices spiked again this morning i did so quick online checks;
European Central Bank states oil prices dropped;
Oil prices fall on ECB chief's comments on euro
By By The Associated Press on February 07, 2013
NEW YORK (AP) — The price of oil fell below $96 per barrel Thursday after the head of the European Central Bank expressed concern over a recent rise in the euro.
Australia also say dip in oil price;
US oil dips on refinery, pipeline outages
From: AAP
February 08, 2013 8:29AM

US crude prices tumbled on Thursday after an extended US refinery outage revived concerns about a glut of crude sitting in the middle of the country.

so why are our prices continually rising;
don't say our $ , because it's better than has been in along time; U.S.D. $0.83

The current price of crude oil is over US$117/barrel, the highest it has been since May 2012. The last time oil prices were this high, we were paying $2.20/litre for 91 octane. The oil price you quote is West Texas Intermediate, which is not exported and so not refined into engine fuel for our market. In any case, it is not the oil price that matters, but commodity prices for refined fuels - petrol and diesel - and these have risen in recent weeks due to improved global economic conditions, and stockpiling due to anticipated refinery shutdowns for routine maintenance. Petrol commodity prices are up nearly NZ 7 cents per litre, and diesel 6c, since retail prices last fell on 18 January. It comes down to supply and demand - there is very little spare refining capacity in the world, and we are running out of cheap oil. For more information on fuel prices, see http://www.aa.co.nz/petrolwatch/