‘It’s insane’: Petrol prices jump in NZ as 91 reaches record in major Australian cities | Newshub
kiwis continue to feel the pinch with
fuel prices rising along with household
living costs but economists say the
latest figures aren’t all doom in Gloom
here’s Grace
Thomas it’s the news motorists don’t
want to hear but won’t be surprised by
fuel prices across the country are going
up I’ve noticed the price has gone
really high oh
yeah prices at the pump have increased
by 26 cents per liter over the year so
far on one hand you’ve got those
geopolitical t
which are pushing up Global oil prices
at the same time though weaker economic
activity across the world is putting a
bit of a cap on how high they’ll go
although we see some spikes shortterm
we’re not seeing long-term impacts as a
consequence of those geopolitical events
it’s hoped they don’t get as bad as
Australia though where the cost of 91
Petrol in its major cities reached
record highs this week it’s been put
down to Rising wholesale costs High
crude oil prices and a weak Australian
dollar we’ve got some of those same
effects coming through New Zealand but
not quite as intensely it’s not just
fuel too new figures from stats andz
show the average New Zealand households
Cost of Living went up
6.2% in the 12 months to March it’s all
of those vitals that new zealanders are
having to pay for at a time when
interest rates are high as well making
every part of life more expensive and
more difficult to finance but the good
news is while the cost of living keeps
Rising it’s rising at a slower rate in
the year 2 to December 2023 the increase
was 7% it’s hoped fuel prices will be
slow to increase too there’s got to be
no resp I can’t see it dropping down
significantly I can’t see it jumping up
a lot either it’s just the price that
we’ve got to pay today and if you’re
hoping to ease some of that Financial
strain at the pump the advice is to shop
around for the best fuel deals Grace
Thomas newshub
Kiwis continue to feel the pinch at the pump with fuel costs – and the cost of living – rising. But there are some signs the worst of it could be over. Grace Thomas explains. ➡️ SUBSCRIBE: https://bit.ly/NewshubYouTube
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