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Home / Business / Companies / Energy

Keep that tank full - gas prices on the rise says AA

5 Jul, 2005 10:05 AM2 mins to read

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The Automobile Association says motorists should try to keep their tanks full as petrol prices are likely to get higher still.

With prices for 91 octane petrol about 132.9 cents now, the AA said no respite was in sight.

Crude oil prices have reached about US$60 ($89.35) a barrel and
with the NZ dollar falling in recent days, price hikes could not be ruled out.

"Motorists should keep their tanks full," an AA statement said.

"The high value of the New Zealand dollar has to date shielded New Zealand motorists from the advancing world prices but this cannot be guaranteed to continue."

The association also warned that some stations were changing their premium fuel from 96 octane to higher-octane petrol, leading to an increase in price for unsuspecting motorists.

"Motorists that fill up regularly from a particular garage may find that their usual pump has been converted to a higher-priced fuel without their being aware of this change."

Meanwhile, the association said the total tax and levies on petrol now amounted to 62.42c on a 132.9c litre of 91 octane. That was made up of:

* Crown account 18.71c.

* Land transport fund 22.49c.

* ACC levy 5.78c.

* Petroleum fuels monitoring levy 0.025c.

* Local authority petroleum tax 0.66.

* GST (based on 132.9c pump price) 17.76c.

- NZPA

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