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Motorists on the Hibiscus Coast are paying around 20 cents per litre more for petrol compared with nearby parts of Auckland, according to fuel price data from the Gaspy app. Prices recorded on Thursday’s Gull discount day showed a significant gap between Coast stations and those only a short drive away. At the time of writing, the cheapest 91 unleaded on the Hibiscus Coast was $2.56 per litre at Gull Silverdale. In comparison, the same fuel was $2.28 per litre at the Gull station on Greville Road in Albany, a difference of more than 20 cents per litre.
Across a 20km radius, the highest fuel prices were concentrated on the Hibiscus Coast. Z Silverdale was charging $2.82 per litre, with the seven most expensive prices in the area all recorded at Coast stations.
AA fuel prices expert Terry Collins says several factors influence the difference in pump prices, such as limited local competition, the need to cover operating costs at staffed petrol stations and pricing decisions made by individual station owners. Collins says fuel pricing also reflects a range of underlying costs including refining, international freight, exchange rates, fuel excise duty, GST, levies and retail operating expenses.
Global events could also begin pushing prices higher in the coming weeks. Collins says disruption to shipping through the Strait of Hormuz, a key global oil transport route linking key Gulf producers Saudi Arabia, Iran, Iraq and the United Arab Emirates with international markets, is already affecting global oil prices.
“It’s very hard to predict, but already the price has risen and it’s a bullish market,” Collins says.“It’s expected to still go up as the conflict lengthens.”
He says petrol prices in New Zealand could climb by 25 to 30 cents per litre if the disruption continues. New Zealand imports most of its refined fuel, meaning local pump prices are closely linked to global oil markets and shipping costs. Even short-term supply uncertainty can quickly affect prices.
