What is going on with the petrol price?

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nzkiwiman

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Topic # 224198 7-Nov-2017 10:45

(Note, no "Gull effect" around Dunedin, so we have always paid the national price)

Last Thursday the price of petrol went from $2.039 to $2.099 and yesterday (Monday) rose again to $2.129

A quick glance of the exchange rates shows that it hasn't moved ...

Has there been some new tax introduced? Or is this how they pay for all the 6/8/10c promotions?

kiwicam

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Reply # 1896672 7-Nov-2017 10:53

You're not the only one wondering this. The AA are too: https://www.stuff.co.nz/business/98528602/petrol-prices-rise-for-the-second-time-in-less-than-a-week

vexxxboy

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Reply # 1896673 7-Nov-2017 10:53

Crude oil is at a 2 year high and the Saudi prince is cracking down on corruption. ie he is trying to take control of all the Saudi oil trade so people are nervous and prices rise.

Common sense is not as common as you think.

l43a2

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Reply # 1896674 7-Nov-2017 10:55

the fuel they are selling has been paid for weeks in advanced if anything so these little "peaks" of prices seem interesting.

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wellygary

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Reply # 1896677 7-Nov-2017 10:59

Both Crude and MOPS prices have been on an upward swing in the past few months, and Singapore petrol prices are up almost 5% in the last week,

http://quotes.ino.com/charting/index.html?s=NYMEX_V0.X17&t=&a=&w=&v=d1

Oblivian

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Reply # 1896681 7-Nov-2017 11:02

l43a2:

the fuel they are selling has been paid for weeks in advanced if anything so these little "peaks" of prices seem interesting.

Especially when it comes to the generic 'competitive market' sput we get. Like they fill the tanks on the same day as each other. Competition usually means sway people with pricing. Ala hold it lower than the competition for a few days to nab those who realise they are about to be stung. Or if you KNOW you have margin to move against your competetor.. even longer.

But no, 4hrs.. all go up (apart from the independants or those balsy to capitlaise on this idea like the mobil and caltex I passed this morning still low)

Similarly how the convo in the Z discounting threads we had went, it went up for the 2nd time (6c total). And was advertised as such in media when it got focus.. boom, next day the flybuys discount turned into 8c off.

MikeAqua

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Reply # 1896706 7-Nov-2017 11:35

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We are all getting ripped off at the pump - mostly by the government.

Mike

elpenguino

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Reply # 1897210 7-Nov-2017 22:52

You can't blame the govt because there is widespread regional discrepancies. Go to rotorua gull and it is prob 40-50c cheaper than dunedin today - all because petrol is sold in Rotorua by someone other than the big 4 who own NZRC.

The big 4 have been working together to gently put the price back up after the 'inquiry' last year.

sbiddle

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Reply # 1897212 7-Nov-2017 22:57

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wellygary:
Both Crude and MOPS prices have been on an upward swing in the past few months, and Singapore petrol prices are up almost 5% in the last week,

http://quotes.ino.com/charting/index.html?s=NYMEX_V0.X17&t=&a=&w=&v=d1

The AA could help by helping put an end to scams like Smartfuel.. oh that's right - it's their name associated with it.

mattwnz

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Reply # 1897229 8-Nov-2017 00:19

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The previous government were doing investigations and enquiries into pricing. But I am not sure if these are still being done since the change in government. The new government should be also looking into this. IMO due to NZs small population we do need some regulation on pricing in certain areas where there is a lack of competition, as NZers do pay too more on many things compared to other countries.. eg building materials, super markets etc.

dickytim

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Reply # 1897250 8-Nov-2017 06:20

The petrol price is too low IMHO.

We have substandard roads that are getting busier and busier every day, we need massive investment in roading and in public transport around the country.

We need to be paying another 50c a litre in tax and building world class infrastructure, that or toll roads.

Oblivian

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Reply # 1897313 8-Nov-2017 08:43

mattwnz:
The previous government were doing investigations and enquiries into pricing. But I am not sure if these are still being done since the change in government. The new government should be also looking into this. IMO due to NZs small population we do need some regulation on pricing in certain areas where there is a lack of competition, as NZers do pay too more on many things compared to other countries.. eg building materials, super markets etc.

It Ended with inconclusive findings as Mobil and gull refused to disclose information at request

Press have confirmed this today with the 3rd raise article.

Since. The announcement there's been 5 or 6.

NzBeagle

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Reply # 1897314 8-Nov-2017 08:47

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dickytim:

The petrol price is too low IMHO.

We have substandard roads that are getting busier and busier every day, we need massive investment in roading and in public transport around the country.

We need to be paying another 50c a litre in tax and building world class infrastructure, that or toll roads.

Toll roads please, nicer to have the choice, and user pays isn't so bad...