Gasoline prices might become more expensive in New Zealand, with experts saying that the cost could go as high as $3.50 for each liter of 91 octane p
Gasoline prices might become more expensive in New Zealand, with experts saying that the cost could go as high as $3.50 for each liter of 91 octane petrol by Christmas. The reasons behind this increase include rising oil prices, a weak New Zealand dollar, and the closure of the Marsden Refinery. This closure has caused the price of unprocessed Brent crude oil to rise to its highest point this year, reaching $95 a barrel. Experts also predict that the supply shortage will continue throughout the last part of the year due to production cuts by major oil-producing countries. These factors are expected to impact both petrol prices and air travel costs. Additionally, recent government moves to reduce fuel excise duty and road user charges have now ended, which could contribute to the price increase.
