Fuel Price – Oil Price in New Zealand

Fuel prices are at their highest for three years and there are warnings they could rise further.

Prices have surged because of political turmoil in the Middle East and North Africa as well as a weaker New Zealand dollar.

The price of 91 octane petrol rose 5 cents a liter to 2.16 NZ dollars (1.6 U.S. dollars) on Tuesday, with warnings it could go up another 40 cents. Diesel rose 4 cents to 1.60 NZ dollars a liter.

The Automobile Association said the increases are likely to further delay the global economic recovery.

The association says petrol has risen 13 cents a liter since March 1, while diesel has surged 18 cents a liter.

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