Mobil Oil raises petrol and diesel prices

Mobil Oil New Zealand will lift the wholesale price of petrol by 2 cents a litre and the price of diesel by 3 cents a litre, effective from midnight tonight, Mobil Oil New Zealand Country Manager, Alan Heng said today.

These increases are likely to be reflected in retail pump prices.

Today’s decision is the result of steep increases in finished product. These have increased by about $5 a barrel in the last two weeks.

“Mobil has resisted making this adjustment for as long as possible, but we have reluctantly decided to make this move today,” Mr Heng said.

“Current prices are no longer sustainable in the face of rising costs. Should the trend reverse, we would be glad to pass on savings to our customers.”

Mr Heng said that the recent recovery in the Kiwi dollar had helped to minimise the increase.

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