Petrol companies too quick to raise prices - AA

File photo / Peter Meecham
File photo / Peter Meecham

Petrol prices have increased by 3 cents in what the Automobile Association is describing as an "unwelcome'' move by petrol companies.

Z Energy were the first to push up prices up this morning, followed by BP, after six cuts to the cost of petrol in a month.

The price of diesel has also increased by two cents.

It will now cost motorists 199.9c per litre for unleaded, 207.9c per litre for premium and 142.9c per litre for diesel.

Z Energy's spokeswoman Sheena Thomas said the price had gone up because the cost of crude and refined diesel and petrol on the international market had increased.

But AA petrol watch spokesman, Mark Stockdale said petrol companies may have been too quick in rising the price.

"It's an unwelcome increase following a month of oil price cuts. Let's hope prices don't start rising at the same speed they've been coming down.''

He said oil companies could have held off increasing prices at this stage.

"Because they hadn't passed on every last cent of the commodity price reductions - so there was room for them to absorb some of these increases and they have been quick to put those prices up.''

- APNZ

© Copyright 2014, APN New Zealand Limited

Assembled by: (static) on red akl_n2 at 28 Aug 2014 22:54:48 Processing Time: 459ms