Petrol price hike

[dreab_boy 0]

wasn't petrol $1.42 about two days ago when the price of barrel was $44 or there abouts and our NZ$ was sitting around 56-58c and now that oil is down to $35 and our NZ$ is at 55c why did the price rise to $1.47?

[zenetti 0]

It is more to do with the US$ than anything else. The US$ was around 59c and has dropped now to around 53c - a drop of over 5%. I agree however that the petrol companies are always quick to put the price up but slow to drop it. This has been discussed time and time again here on tyhis forum.

[bradc 0]

It was down to about $35 a barrel over xmas when the price was at $1.30.

The Saudi's have said they would like oil to stay at about $50-70 a barrel, so long term if they have their way we will see petrol sit at around $1.50-1.70

[kiwi535 538]

It was down to about $35 a barrel over xmas when the price was at $1.30.

The Saudi's have said they would like oil to stay at about $50-70 a barrel, so long term if they have their way we will see petrol sit at around $1.50-1.70

long term....dont think so it wil go up and up

[QuickSilver 0]

Just came back from Europe, our petrol is one of the cheapest in the world. We've got it pretty good. In germany 91 was at 1.23 EUR per litre when I left.

Todays exchange rate means it looks like this:

1.23 EUR

=

3.01814 NZD

Ouch!

Edit: Last year during the peak it was over 2EUR per litre.

Edited January 17, 2009 by QuickSilver

[nath 134]

Just came back from Europe, our petrol is one of the cheapest in the world. We've got it pretty good. In germany 91 was at 1.23 EUR per litre when I left.

Todays exchange rate means it looks like this:

1.23 EUR

=

3.01814 NZD

Ouch!

Edit: Last year during the peak it was over 2EUR per litre.

Compare that with what they earn in Germany?