Motorists will face petrol price rises tomorrow, with a three cents a litre government tax increase, although one oil company says it will not pass on the full amount immediately.
Petrol prices around the country could be on the rise again as the cushioning effect from the strong New Zealand dollar evaporates with its weakening.
Petrol prices are heading down towards the $2 mark with BP announcing a 3c price cut today as international oil prices tumble.
Petrol prices have jumped 11 cents and are now just 2 cents shy of the highest price ever recorded, latest figures show.
New Zealand petrol prices fell yesterday as world oil prices reached a four-month high, suggesting that relief for motorists will be short-lived.
The Government's scheme to increase petrol tax and road user charges will hit consumers hard in these tough economic times, the National Association of Retail Grocers says.
Global crude oil prices may have slumped this week but a recent 4c a litre increase in the cost of refined petrol was yesterday passed on by Z Energy.
Petrol prices are at their lowest levels in three months.
Outram may seem like an unlikely spot to find the cheapest petrol in the Dunedin area, but the owner of Outram Garage Ltd believes he probably offers the lowest prices in town.
Motorists are feeling the pinch from record high prices at the petrol pump, with the cost of 91-octane fuel at stations surveyed in Otago ranging from 219c to 229.9c per litre.
The price of petrol is climbing again, and three companies lifted the price of 91 octane fuel by 3c a litre yesterday.
The Automobile Association says there is unlikely to be any good news for motorists soon, as petrol prices continue to rise steadily.
Global oil prices have tumbled to their lowest in 18 months, with New Zealand petrol prices in turn dipping below $2 a litre for the first time in 10 months to 199.9c a litre.
Reduced fuel prices are not likely to be passed on to customers of transport service providers, those in the industry say.
A strong New Zealand dollar and the European financial crisis have resulted in the petrol price dropping to below $2 a litre for the first time since August, and the AA says motorists could be in for even more savings later this week.
Declining global oil prices have wiped 14c off the cost of fuel for New Zealand motorists in recent weeks, with the latest 3c cut edging prices closer to $2 per litre.
New Zealand drivers are paying about 4c a litre more for their fuel than justified by import costs, says the Automobile Association.
Petrol companies are dropping the price of petrol by 4 cents a litre this morning, bringing the price of 91-octane under $2 for the first time since January.
BP, Shell and Gull have dropped the price of petrol by three cents a litre this morning.
Z Energy, formerly Shell, dropped petrol and diesel prices at the pump from today.