Motorists fuel up before pump prices skyrocket

Traffic was backed up for about a kilometre outside a Christchurch petrol station on Friday after motorists were warned to "fuel up now" before pump prices skyrocket from tonight.

A queue stretched from the Waitomo Fuel Stop on Cranford St to Innes Rd this afternoon as motorists heeded the warning from Waitomo Group managing director Jimmy Ormsby.

Waitomo Group was advised by its supplier that from tonight fuel prices are set to increase dramatically, with Ormsby describing it as "the biggest single jump in our wholesale price seen in my time".

"A jump of this level is going to hurt motorists and businesses big time, so as a Kiwi business, we’re doing everything we can to minimise that pain, including forewarning our customers," Ormsby said.

"Get in now, fill up as much as you can.

• Soaring petrol prices hit the pocket

"We will supply as much as we can at the lower price until 6pm, but from then on, prices will start climbing, reflecting the unprecedented price increase we’ve received."

Continued uncertainty over the Ukraine crisis and the ban on Russian fuel by the United States and United Kingdom has caused supply jitters in the market, with crude oil prices climbing to levels not seen since 2008.

Barrel prices have jumped more than 35 per cent in a week.

"High fuel prices - like grocery prices and housing prices - are part of the cost-of-living crisis, hitting Kiwis who least can afford it," Ormsby said.

"Come spend a few hours pumping gas with me to get good taste of how tough it is for many Kiwis just trying to put food on the table.

 

"The impact for Kiwis that can least afford it is what keeps me up at night."

The current fuel prices will remain in place until 6pm on Friday at all Waitomo Fuel Stops, Ormsby said.