The cost of petrol has climbed sharply across parts of New Zealand, with 95-octane fuel now topping $3 a litre in areas including Kapiti, Waikanae, Fox Glacier and Greymouth, as escalating conflict in the Middle East pushes global oil prices higher.
Motorists are reporting sudden weekly increases of up to 15 cents a litre, prompting concern over household budgets and renewed strategic filling of tanks before further rises hit.
Analysts say crude oil futures have already reached US$85 a barrel and could climb to US$100 if instability in the Middle East continues, potentially lifting petrol prices to between $3.20 and $3.30 a litre.
Economists warn the impact will extend beyond motorists, with higher diesel and freight costs likely to feed into broader inflation pressures, while fuel retailers say rising global refined fuel costs, shipping risks, insurance premiums and the weaker New Zealand dollar are all contributing to the upward trend.
Image credit: Engin Akyurt
The government loves it. The higher the price the more tax revenue they get.
No doubt Winnie and Luxon are lining up a tax-payer funded donation for Israel to keep the ball rolling.
And I’m SURE the fuel retailers will put the price back down as soon as all those things are solved, right?
No way it’ll stay above $3 indefinitely no matter how much things improve in the future, right? 🙂
Huh? Didn’t “bureaucrats” state 1 day ago it would be all OK because of “large storage” ….Yeah what a fkn surprise the slimeball snakes in the waspnest will now just “pass the cost on” to Joe blow citizen without even a fkn blink
Now watch the sleazy fraudulent supermarket monopoly pump their prices up overnight and the equally scumbag corporate power compqnies will be sending you more slippery scumbag messages on how “unfortunately” your power bills “have to” increase whilst their sh*thead waspnest co-hort inhabitants will flit-off via taxpayer funded holiday jets to the Seychelles to back-slap each other while tripling-up their 2026 property portfolios…
This is bollarks the supply is still there, they are not needing to buy any petrol for three months greedy bastards!!
Makes a mockery of the “think big” era which has been sabotaged and destroyed in recent years.
We desperately need to drain the whole swamp in the beehive.
Shane Jones and other affiliated ‘Energy Ministers’…where the hell are you when it comes to demanding Emergency Legislation and Spending to restore Marsden Point to full capacity and revoke / rescind the ‘Anti-Drilling Mandates’ in order for NZ to have energy independence?????
When Israel & Trump took World War Three full-hot, this is when action should have been taken to rebuild and restore the marsden Point Refinery!!!
Not only has 20% of the world’s hydrocarbon energy supply been cut-off, but 50% of the world’s seaborne fertilizer supply has also been locked-in by closure of the Persian Gulf. Given the coming sharp spike in price inflation underpinned by much higher energy prices, food and energy will both become increasingly scarce.
We’ve heard in the past that NZ only has 3 days petrol storage at any one time. Australia only has 25/26 days according to Pauline Hanson.
So work from home is back on the menu?
We have paid $3.30 for 95 for years up here in the Hokianga…why? and what is it going to do now?