NZ fuel price up as US price hits recent high

The fuel price has increased by three cents at some New Zealand petrol stations.

BP said the national price for unleaded 91 increased to 211.9 cents yesterday.

Sheena Thomas from Z Energy said it had also increased prices across most of its service stations because barrel prices in the US were the highest they had been since late 2014.

Mobil said it was company policy not to comment on fuel prices to media.

The Automobile Association said the increase in fuel prices – now at $US73 a barrel – was unexpected but might be a response to higher commodity prices earlier this year.

Its principal advisor for regulations, Mark Stockdale, said AA‘s monitoring of commodity prices and exchange rates showed there was not any increase this week that would explain the three-cent rise.

The increase could be a catch up to the previous month of high prices, he said.

“All through March we had seen commodity prices increase several times … and yet there wasn‘t a price increase at the pump until just the end of March.

“In fact it is was the first increase for nearly seven weeks,” he said.

“So maybe it‘s just a delayed response to that.”