Petrol prices getting close to last year's record. What about your city or town?

Forums › Transport (cars, bikes and boats) › Petrol prices getting close to last year's record. What about your city or town?

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#2940381 10-Jul-2022 16:41

gzt: I got a Costco card and found out three things. The station does not take credit cards, the hours don't suit me, the price is typically the same as the middle pak and save 10c off voucher.

That is surprising. Not even Visa or Mastercard? I expected no Amex but no Visa/Mastercard is quite something.

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#2940448 10-Jul-2022 17:10

As I recall there is a sign on all pumps "NO CREDIT CARDS". Pulled up at the pump, one card in pocket, read sign, look around, emit four letter word, drive away. Second attempt out of hours fail.

Scott3

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#2940497 10-Jul-2022 19:58

Last time I filled was a Waitomo discount day, currently costco is 11.2c/L cheaper than my local waitomo.

Did some looking at prices on Gaspy.

Costco / Waitomo Epson (my local low cost station)
Mobile Parnell (my nearest fuel station)
Gull Hampton downs / Allied Maramura (good stops when apposing Auckland from the south to fill up before hitting the fuel tax zone)

Costco / Waitomo Epson / Mobile Parnell / Gull Hampton downs / Allied Maramura

Diesel: 268.7c / 293.9 / 303.9 / 279.97 / 289.9

91: 298.7c / 309.9 / 314.4 / 296.7 / 296.7

95+: 316.7 / 327.9 / 361.1 (98Ron) / 306.7 / 328.9

KiwiSurfer:

That is surprising. Not even Visa or Mastercard? I expected no Amex but no Visa/Mastercard is quite something.

Even in the USA (globally?) Costco is quite restrictive with credit card's.

They have an exclusive deal with Visa, so MasterCard / Amex are not accepted at their fuel stations of retail stores (MasterCard is accepted online). Prior to 2016, Amex was had the exclusive deal.

At a guess, I would say, either Costco has decided not to wear the credit card fees on fuel, to keep their pump prices lower. Or is still in the processes of ironing out the visa deal to cover NZ.

Dingbatt

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#2940503 10-Jul-2022 20:16

At one stage Costco was 30c/l cheaper than their local competitors. I figure it was probably a loss leader to get customers to sign up for a Costco membership. It has settled down to be about 10c cheaper now. Means you’ll need to buy 600 litres to break even if you’re only doing it for cheap gas. And certainly difficult to justify driving across town for. But we are only 5 minutes away and would have got a membership with or without the gas station.

My next question is, Will Costco have destination chargers? 😁

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richms

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#2940632 11-Jul-2022 10:06

richms:

Batman:

any definitions of cheap junk?

Demios, tiidas, etc

I forgot marches too.

Had a great one yesterday. In the right lane of an onramp merge in front of me (signals were not running so it was free flowing) instead of accelerating to take their place infront of the car in the left lane, they decided to stop. From about 60 k's (probably all they could do up the hill at constellation drive)

I honked at them and the class act in the passenger side decided to do the fingers.

Then got on the motorway and I lost view of them in the rear view in the slow lane when I was in the fast one doing 80 in the normal traffic speed.

Richard rich.ms

GV27

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#2940633 11-Jul-2022 10:08

Scott3:

They have an exclusive deal with Visa, so MasterCard / Amex are not accepted at their fuel stations of retail stores (MasterCard is accepted online). Prior to 2016, Amex was had the exclusive deal.

It's now Mastercard CCs only, according to the signage yesterday.

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johno1234

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#2940646 11-Jul-2022 10:53

Dingbatt:

And since prices are back up to the level that caused panic in the Politburo and they knocked 25c off the excise, does that mean they are going to knock another 25c off? Because surely people are struggling just as much again now?

They've said the tax goes back on next month. Just waiting for the poll driven backdown.

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#2940656 11-Jul-2022 11:24

johno1234:

They've said the tax goes back on next month. Just waiting for the poll driven backdown.

Might have to top up the sharetank again sooner then. Was hoping it would last till the model 3 arrived but have been doing a lot more driving than I anticipated when I put a crapload in on the low interest visa back when Ukraine was becoming a thing.

Richard rich.ms

Scott3

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#2940658 11-Jul-2022 11:37

I imagine that 25c temporary petrol tax is creating quite a hard decision (and possibly regret) by our political leadership.

Pritty much regardless of circumstances, a 25c overnight hike in petrol price due to government policy is going to attract negitive media attention and be unpopular.

On the other hand, continued extensions, are essentially a direct subsidy for fossil fuel use, which clashes with the stance of our leadership on climate change.

And as per the prior post, from the public point of view, all the circumstances that justified temporary cut in tax still exist. And it doesn't look like the Ukraine special military operation will end soon.

Oil prices have been doping on global recession fear's, but a fuel tax hike in response to a global recession won't go down well with the public.

Suspect some kind of taper out of the 25c tax cut will be attempted. (perhaps 5c a month...)

Oblivian

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#2940666 11-Jul-2022 11:53

If this wasnt the 2nd term where it was promised to not be touched...

would normally be the annual 5c one going on end of this month also (it ended 2021). Thats not come off after the roads have been paid for....

But the treasury is warning as recent as last month it might need to go up to pay for more roading projects. Uhhhm.

Then there is this, which will likely bump the pump again now that it went down on Friday..
https://www.customs.govt.nz/about-us/news/important-notices/increase-in-the-petroleum-or-engine-fuel-monitoring-levy-pefml-on-1-july-2022/

floydbloke

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#2940670 11-Jul-2022 12:01

Scott3:

I imagine that 25c temporary petrol tax is creating quite a hard decision (and possibly regret) by our political leadership.

Pritty much regardless of circumstances, a 25c overnight hike in petrol price due to government policy is going to attract negitive media attention and be unpopular.

...

Suspect some kind of taper out of the 25c tax cut will be attempted. (perhaps 5c a month...)

I'd hope so too and I'd certainly think the government could afford to do so.

If we consider that the GST take on a litre of petrol has risen, say, by 9c (based on a price increase of 60 cents per litre) from pre-Ukraine conflict, they could continue with a 10 cent tax reduction until prices ease again (if ever) and still collect roughly the same amount of tax revenue per litre sold prior to the price hikes.

Sometimes I use big words I don't always fully understand in an effort to make myself sound more photosynthesis.

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Scott3

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#2940673 11-Jul-2022 12:25

Oblivian: If this wasnt the 2nd term where it was promised to not be touched...

would normally be the annual 5c one going on end of this month also (it ended 2021). Thats not come off after the roads have been paid for....

But the treasury is warning as recent as last month it might need to go up to pay for more roading projects. Uhhhm.

Then there is this, which will likely bump the pump again now that it went down on Friday..
https://www.customs.govt.nz/about-us/news/important-notices/increase-in-the-petroleum-or-engine-fuel-monitoring-levy-pefml-on-1-july-2022/

That last one is fairly trivial.

Change from .59c to 0.65c. I.e. an increase of $0.0006 to $0.0065

Oblivian

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#2940674 11-Jul-2022 12:30

Read fail.

That said, the fuel cos are quite clear that making up for added costs (no matter the amount) is a necessity and no leeway. As we see

Just like how discounting 10c for a day every week or only if you have a loyalty plan every other day means it can't be permanent....

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#2940678 11-Jul-2022 12:43

The thing is, fuel does not need to be expensive. All the infrastructure to pump oil is there. The world is held to ransom by oil rigs!

Scott3

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#2940679 11-Jul-2022 12:46

floydbloke:

I'd hope so too and I'd certainly think the government could afford to do so.

If we consider that the GST take on a litre of petrol has risen, say, by 9c (based on a price increase of 60 cents per litre) from pre-Ukraine conflict, they could continue with a 10 cent tax reduction until prices ease again (if ever) and still collect roughly the same amount of tax revenue per litre sold prior to the price hikes.

What the government can afford is just a function of how much they are willing to borrow (or to change tax take / spending in other area's). So if there was the political will they could absolutely keep the 25c discount for an extended period.

I don't buy your reasoning regarding am extended 10c tax reduction, based on GST take for the following reasons (no sources to just cite, just my take):

Even prior to the Ukraine conflict petrol taxes / RUC's were set too low to pay for the land transport network, requiring other funding sources like rates, general taxation, and even using Public Private partnership to fund road building, to essentially pay it off over the next few decades.
Substitution effect. Decent chunk of NZ doesn't increase overall spending when fuel prices are high, instead they spend less in other area's (recreation, eating out etc). Meaning GST take overall wouldn't be expected to substantially change.
Petrol price elasticity. While people often consider demand for petrol to be inelastic, in reality there is some degree of elasticity. Some people do change their behavior in response to fuel prices. I.e. working from home more often, going on less recreational road trips (or picking nearer destinations), using the more economical vehicle in their household fleets (i.e. squeezing into the hatchback for a weekend away, rather than taking the SUV), or higher mileage users changing to a more efficient vehicle. Net result is that increased GST take on more expensive fuel may not be enough to cover the lost tax from a lesser volume being sold.
Overall improvements in fleet efficiency. Over time older cars leave the fleet and are replaced with newer more efficient stuff. A 2006 yaris is rated at 6 - 6.7L/100km, an new hybrid one is rated at 3.3L/100km. This is only partially offset by our fleet getting bigger. So we will need to tax more per liter to recover the same take per km.

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