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Fuel & Energy

Petrol and diesel prices see sharpest monthly rise on record

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Petrol and diesel prices posted their largest monthly increases on record in March, according to new data from Stats NZ.

Petrol prices rose 18.6% between February and March, while diesel surged 42.6% over the same period.

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Stats NZ says the increases are the largest monthly movements for both fuel types since it began publishing vehicle fuel price data in July 2011.

The sharp rise follows declines in both petrol and diesel prices in January and February.

On an annual basis, prices have also moved higher. Petrol was up 13.9% in the 12 months to March, while diesel increased 36.9% over the same period.

Stats NZ compiles fuel price data using a combination of administrative information from fuel companies and weekly pump price monitoring, with national averages reflecting the prices experienced by households across the country.

The latest figures highlight the scale and speed of recent fuel price volatility, with diesel in particular seeing a significant jump over the past month.

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