Petrol prices in New Zealand are over $3 a litre

Petrol prices have once again crossed the $3 per liter mark in some parts of New Zealand. Both Auckland and Wellington saw 91 petrol prices above $3 a liter at most stations. Other areas such as Hamilton, Whangarei, Napier, Rotorua and Taupo also saw petrol prices reach or above $3 a litre.

Similarly, diesel prices are rising across the country, $2.35/litre in central Auckland, $2.29/litre in Wellington and $2.15/litre in Christchurch. The rise in prices was expected after the June 30 removal of the cut in fuel excise duty that had reduced the price of petrol by 25 paise.

Crude oil price is currently at USD 86 per barrel. Experts predict that prices will continue to rise in the coming years due to climate change obligations and the cost of maintaining and building new roads in the country.

Finance Minister Grant Robertson has said there are no plans to cut fuel duty again as international oil prices cannot be sustained for long due to urgent demands for government spending. He stressed the need to find a balance because fuel tax revenue directly funds a variety of transportation initiatives, including new highways, highway safety, public transit, pedestrian and bicycle infrastructure.