Author: Tom Pullar

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That means prices at the pump would not rise as much as the price of oil, but the impact "could be concerning," AA spokesman Mark Stockdale said.

"It could have a negative impact which would inevitably flow through to the pump.

Changes in the oil price flow "promptly" through to the pump, says the AA.

"We have to wait and see, but it is certainly not helpful. It is these sort of geopolitical events that can lead to fuel price spikes and they are outside the control of fuel companies, the Government and Kiwi motorists," he said. 

Z and Mobil have also been approached for comment.



Changes in the price of oil flowed promptly through to the pump prices of petrol and diesel, Stockdale said.

"The way the fuel price works in New Zealand is that it is benchmarked to the commodity price.

"We have seen in the past that the price at the pump reflects changes in the commodity price within the following day or two."

Article: https://www.stuff.co.nz/business/115807186/petrol-prices-may-rise-after-saudi-attack-sparks-talk-of-oil-topping-us100m-a-barrel
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