By ELIZABETH BINNING
The cost of filling up the car has reached levels not seen for a decade after two price rises last week.
Early last week BP raised its petrol prices 2c a litre. On Friday, followed by other major suppliers, it added another 3c.
Last night, the cost of 91 octane
was peaking at just over $1.25 a litre at most of the larger petrol stations, and 96 was sitting on $1.30.
BP spokesman Jonathan Hill said the prices of 91 and 96 were now at their highest in about 10 years, partly because of oil prices, which have nearly reached US$55 a barrel.
"I would think we are going to see petrol prices stay relatively high for at least the next little while," he said.
The Automobile Association said this month that oil companies had no excuse for excessively high prices because retail competition was good and the New Zealand dollar high.
It said 47 per cent of the cost of petrol was Government tax, 38 per cent oil and refining costs, 10 per cent operating costs and margins, and 5 per cent international shipping costs.
