Fuel prices top $4 a litre as motorists face months of high costs
Petrol prices in parts of New Zealand have exceeded $4 a litre, with experts warning relief is unlikely before Christmas.
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Petrol prices in parts of New Zealand have exceeded $4 a litre, with experts warning relief is unlikely before Christmas.
Petrol prices have risen to over $3.50 a litre in New Zealand while crude oil costs have fallen, driven by refining and shipping expenses amid Middle East disruptions.
The S&P/NZX 50 Index dropped 0.56% to close at 13,749.6 as international weakness and climbing oil prices weighed on the market.
An ASB survey of 406 business leaders found nearly a third have raised prices due to energy costs, while a fifth has cut production.
A survey of more than 400 New Zealand business leaders shows 73% are concerned about energy costs, with only economic uncertainty ranking higher.
Growing numbers of New Zealanders are using buy now pay later services to pay for fuel as prices rise sharply, financial mentors warn.