Cheapest petrol on NI’s East Coast

AUCKLAND: A small town in the Bay of Plenty could well have the country’s cheapest petrol price, while island living comes at a cost.

As fuel companies across New Zealand argue the reason for high fuel prices, and Prime Minister Jacinda Ardern promises action and relief at the pump, it appears Gull in Taneatua, near Whakatane, is the place to go for cheap fuel. It is charging only $2.10 a litre for 91octane petrol, $2.21 for 98 and $1.40 for diesel.

Slightly further inland, Mobil Te Ngae in Rotorua follows closely with 91 at $2.13 a litre, 98 for $2.33 and diesel for $1.46.

The East Coast of the North Island is possibly the best area of New Zealand to live in terms of petrol prices.

Gull Gisborne charges $2.14 a litre for 91, and Waitomo and Allied in Napier charge $2.15.

On the other end of the scale, Central Otago is probably the worst region for fuel prices.

Caltex and BP 2go in Wanaka are near the top of the scale, charging $2.63 a litre for 91, $2.71 and $2.74 respectively for 98 and $1.99 for diesel.

Queenstown follows close behind, the majority of its petrol stations charging $2.55 a litre for 91.

However, those choosing island life are paying for it. Z Onetangi on Waiheke Island charges $2.80 a litre for 91, $2.89 for 95, and $2.16 for diesel.

Ms Ardern announced on Monday she was prioritising the passing of the Commerce Amendment Bill.

She said tax increases made up only a small part of New Zealand petrol price rises, and New Zealand’s pretax fuel prices were the highest in the OECD.

The Government was fasttracking the passing of legislation that would give the Commerce Commission the power to conduct market studies into fuel markets to better understand how the market is functioning.

Ms Ardern said the legislation was likely to pass in two weeks.

‘‘[Petrol companies] haven’t opened up their books to us in the past; so we’re going to have to force their hand,’’ she said.

The ‘‘landed cost’’ of fuel — including refining, quality premium, shipping and wharfage — had gone up 19c this year, she said.

‘‘Noone can tell me why we’ve had a 19c increase since the start of the year. That far outstrips the 3.5c of excise that we’ve seen.

‘‘Aucklanders have the regional fuel tax yet Wellingtonians pay more, so explain that to me.’’

Though there were international factors such as the exchange rate, the barrel price and the US relationship with Iran, Ms Ardern questioned why New Zealand paid the highest pretax price in the OECD.

‘‘Even 10 years ago we weren’t paying the highest pretax price. In 2008 we ranked among the bottom third in pretax prices.

‘‘Over that same period the importer profit margin has increased 10%.

‘‘We’ve got to start looking at the core issue.’’ — NZME/RNZ