AA Petrol Watch - August 2003

For Immediate Release 2 September 2003

AA Petrol Watch 2003

AA Petrol Watch observed that petrol prices at the pump continued to rise during August, despite relative stability (and at times some decline) in world oil prices, and a continuing strong New Zealand dollar. The nation-wide average price for 91 Octane rose to 109.5 cents per litre in the last week of August, compared with July’s average of 106.5 cents per litre, and June’s average of 99.5 cents per litre.

Diesel prices also rose during August, with the nation-wide average price of diesel increasing to 62.5 cents per litre in the last week of the month, compared with July’s average price of 60.5 cents per litre.

The Automobile Association again today raised its continued concern about rising prices at the pump.

Feedback received by the Association indicates that motorists are becoming very wary of fuel price increases at this time, especially after having weathered the inevitable price increases during the earlier months of this year, when there was conflict in the Middle East.

“Motorists are expecting to see clear price competition at the pump, rather than the companies simply following each other in a regular manner whenever a change in price occurs, whatever the reasons given. There is also concern that some companies are increasing their prices without making any prior nation-wide media announcement to motorists, giving them no chance to fill their tanks to avoid increased fuel costs” said Mr George Fairbairn, AA Director of Public Affairs.

AA Petrol Watch will continue to monitor fuel prices and report on them regularly, scrutinising the reasons given to justify any changes to fuel prices.

Ends.

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