New Zealanders are suffering a fresh bout of “pump pain”, as the price of petrol surges past the $3 mark. It has climbed 40c in the last four weeks.
The pump pain (as the NZ Herald calls it) brings a glow to climate change warriors, but not to Kiwis who use their cars to get to and from work every day. What makes that pain worse is the prospect that it won’t be eased any time soon.
International crude oil prices have risen steeply because of Russia’s war on the Ukraine, and are now above $NZ150 a barrel. The price of Brent crude jumped from $153 a barrel last Wednesday to $168 on Thursday.
For the motorist, the pain at the pump is compounded by the knowledge that more than half the cost, 52%, is creamed off by the government, supposedly for roading improvements.
