Petrol prices: sure to rise, less certain to fall

(Image: Getty)

Fri, 22 Jul 2022

Ever get the feeling that petrol prices are quick to rise as oil prices increase, but a bit slower to fall so when the opposite happens?Certainly, in recent weeks, that inkling has been proved true as petrol prices remained stubbornly above $3 per litre, even as the price of a barrel of oil began to fall.This 'delay' in passing on the cost savings to consumers went on long enough for Ministry of Energy and Resources Megan Woods to write to fuel companies questioning why On its website, in a section titled "facts about fuel pri...

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