Petrol price hits highest level since start of Iran war
New Zealand's petrol prices have reached their highest point since the beginning of the Iran-US war, with 91 unleaded averaging $3.50.5. This record increase is attributed to sustained high Brent crude oil prices and a significant depreciation of the New Zealand dollar.
Why it matters
Record-high petrol prices will directly impact New Zealand consumers and businesses, increasing transportation costs and potentially contributing to inflation. The weakening local currency further exacerbates the economic strain on the country's import-dependent sectors.
Petrol prices have hit their highest level since the start of the Iran-US war.
Fuel monitoring site Gaspy today shows the average price of 91 unleaded at $3.50.5
Gaspy director Mike Newton says that price is slightly higher than the $3.50.2 hit at the peak of the war back in April.
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