Diesel prices rose seven cents in August to finish at $1.60 a litre
at most service stations – the highest diesel prices have been since
November 2011.
In contrast, petrol prices fell to their lowest
level in 10 weeks during August, but after several weeks of price cuts
they began an upward climb again at the end of the month.
After
beginning August on $2.21 a litre for 91 octane, petrol prices fell
another three cents before rising seven cents to end the month on $2.25 a
litre in the main centres.
“Concerns
about a possible US strike against the Syrian government have led to an
increase in commodity prices,” says AA ‘petrolwatch’ spokesperson Mark
Stockdale. “At the same time, the New Zealand dollar lost three cents
against the US currency during the month.”
“Oil prices are now at
their highest level since February. Back then motorists were paying
$2.21 for a litre of petrol – but the exchange rate was worth five cents
more while taxes were three cents per litre less,” Stockdale says.
The
AA’s monitoring of commodity prices and exchange rates shows the
imported cost of fuel rose six cents per litre since the last drop in
pump prices, in mid-August.
