Unless the pump prices is below $1.80/L the fuel companys in nz are ripping you blind notice how diesel is much lower on avg was 55-60c now 80c please voice at you local station Tuesday stood at $43.42 a barrel going by past prices pump price should be as low as $1.60/70
franc123,
Aug 27, 11:19am
Crude oil price doesn't directly affect pump prices, its the refined price that does, and that's the figure the petrol retailers dont want you knowing. Spare a thought for the oil co's though, they have to find it, extract it, refine it and then ship it to the sale point, govt just slaps its taxes on and does nothing. They're to blame as much for the local ripoff prices.
andrewcg53,
Aug 27, 11:21am
The problem with NZ is we don't buy oil we buy in petrol and NZ has a limited capacity to make petrol form any oil imported hence the price but the prices should move down quicker, but in saying that I pay 11 cents less than the pump price anyway.
mrcat1,
Aug 27, 11:35am
Remembering diesel is not taxed at source, petrol is.
marte,
Aug 27, 12:16pm
I was told by someonein the business, in America, the big oil producers are going for bigger profits every quarter "No matter what".
They want to see the next 5 years of record profits every quarter without exceptions. Since the price of petrols high, and the price of oil is low, and people will pay what they are paying at the moment, which means they will pay more, that means theres a lot of leeway for oil company profits.
tony9,
Aug 27, 8:32pm
Have you factored in the extra taxes that apply since the pump price was that low?
If you do, I think you will find the pump prices very close to what they should be.
tony9,
Aug 27, 8:34pm
Well of course they do. Their investors are demanding more return. And if you are in Kiwi Saver or another such diversified investment then you will be an investor expecting more from your fund.
robotnik,
Aug 27, 8:45pm
It will all be moot soon, as in a few years everything will be electric. We can all then complain about our electricity retailer's electric car tariff ripping us off!
bill-robinson,
Aug 27, 9:04pm
so that is what cloud nine is like
kevymtnz,
Aug 27, 9:06pm
wow some have come to the party Hewletts road here now are fighting it out this is 3 stations within 500m $1.79 / $1.83 / $1.89 and changing by the day
tony9,
Aug 27, 9:15pm
Probably not.
A litre of petrol contains 12 KWh of energy. However at best your new car is going to be about 40% efficient, so equivalent electrical energy to do the same job is about 5 KWh. Assuming total delivered cost of electricity of 30 cents a KWh you come to $1.50 equivalent cost per litre for petrol.
BUT, petrol has a lot of tax per litre, for ACC, roading, etc. etc. This tax is not currently applied to electric vehicles, but it will be, quite soon, via Road User Charges. This will push the energy cost of electric vehicles over that of petrol (or diesel). Then you need to cost of running the batteries and the major cost of upgrading the local electricity distribution network.
In simple terms, Dino fuel is very good value and nothing else can touch it.
gazzat22,
Aug 27, 9:45pm
Arent you lucky,got a flash tractor?
mrcat1,
Aug 27, 9:54pm
They always have, and when the Caltex was in where mad sounds are now, it was worse.
pestri,
Aug 28, 1:07am
I understand that the oil companies margins are now at about 40%.
In the early 2000s they were a mere 15%.
Any crisis will do to lift their margins. shortage of supply. over supply exchange rates drop, exchange rates increase. dun matter , up it goes.
There isn't enough Nd to mass produce electric cars.
elect70,
Aug 28, 3:17am
With the kiwi $ falling lucky to get it under $2l govt takes most of it in tax . If price per bbl falls too low oil companies could leave it in the ground & create a shortage & speculators up the price . Cant win .
pestri,
Aug 28, 3:23am
And as for retail margins.
But there the good news ends. Where Z Energy does not tread is the area of importer margins, the amount available to retailers to cover transport, distribution and retailing costs, as well as their profit margins. This has risen from a low of 15c a litre in 2008. Just before Christmas last year, it stood at 39.4c, higher than at any time since September 1990, when it was 48.68c, measured in inflation-adjusted dollars
The AA are being quiet about it, usually they like to be seen as keeping the fuel companies honest.
pestri,
Aug 28, 3:37am
And in Jan this year one blogger recorded prices thus:
Unless you??
melonhead1,
Aug 28, 4:47am
Its free market gouging, pestri.
pestri,
Aug 28, 7:03am
Wise up.There's nothing free about the oil market. Its an oligopoly which precludes competition.
_peas,
Aug 28, 9:16am
That and our dollar has slumped something wicked. It doesn't buy what it used to. ~25% drop in value against the USD in the last 12 months.
elect70,
Aug 28, 10:46pm
^^^ yep people forget our oil is still sold at US $
pestri,
Aug 28, 11:32pm
Which cannot explain why retailer margins have gone from 15cpl to near 50cpl.
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