Petrol on rise as crude oil soars to a record
By BEN FAWKES - The Dominion Post | Friday, 14 September 2007
Motorists are being warned to expect further fuel price increases as oil prices hit a record high of $US80 ($NZ112) a barrel.
The price of unleaded 91 has risen 10 cents to $1.64 during the past month. Diesel prices have also sky-rocketed, up 12.6 per cent to $1.19 a litre.
A small car, such as a Ford Festiva, with a 45-litre fuel tank now costs $65.60 to fill with unleaded 91 - $4 more than in mid-August.
A Ford Mondeo V6 sedan now costs $95.94 to fill, $5.84 more than a month ago, and a Ford Territory, with a 75-litre tank, now costs $123 to fill, up from $115.50 this time last month.
Automobile Association analyst Mark Stockdale said the international oil price rises were likely to cause further petrol price increases.
"It's early days yet, but people should certainly shop around for petrol."
The four big fuel companies, BP, Shell, Mobil and Caltex, declined to comment on whether pump prices would rise further.
Mr Stockdale said concerns about fuel reserve levels in the United States had contributed to the crude oil price increase.
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