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Comment by asianbro, on 16-Aug-2007 10:15
Who knows, oil industry is dirty and blood lust.
Comment by barf, on 16-Aug-2007 14:39
oil is a currency itself, isn't it?
Comment by TinyTim, on 16-Aug-2007 15:14
Hasn't the price of oil been dropping as the N. American demand drops off as they head into late summer? (Haven't seen any figures tho)
Comment by Sharon Buckland, on 17-Aug-2007 10:28
Hope you don't mind me picking up on this, but a lot's happened over the last 2 weeks that could do with clarifying. Two weeks ago, the NZ dollar started hiking up, which is just one indicator of pressure on the price of petrol, but at the same time, the international price of refined fuel was rising. The two indicators moving in parallel provided a buffer that protected NZ motorists from price increases. When the dollar started coming back down, the international price of refined fuel started coming down too, so the buffer effect was still at work. But in the last 2 days, the refined fuel market (which we have no ability to control in NZ)has started to rally and rise again; in the same 2 day period, the NZ dollar has dropped 5 cents. With these two petrol price indicators no longer working in tandem to cancel each other out, there's a lot more pressure today on the price at the pump. I'm not going to predict what might happen next - the currency market is fluctuating, as is the international fuel price. My advice is to keep an eye on the pumps. Cheers Sharon Buckland Spokesperson for Chevron NZ and the Caltex brand.