Economy the chart

Petrol prices surge as oil prices head south

Andy Fyers
Sat, 16 Jul 2022

Petrol prices surge as oil prices head south
Petrol prices have topped $3 per litre in recent weeks. (Image: Supplied)
Andy Fyers
Sat, 16 Jul 2022
The price of a barrel of Brent crude oil has dropped almost 20% since the beginning of June, from about US$123 (NZ$200) per barrel to about US$100 in recent days.But, the price being paid at the pump in New Zealand has not followed a similar trajectory, with a litre of regular petrol increasing by about 45 cents over the same time.For most of the past month, the average price has hovered at about $3.10 per litre. The highest price recorded in the Ministry for Business, Innovation and Employment's (MBIE) fuel price statistics going back to 2...

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