New Zealand fuel prices jumped 13% in April, diesel surged 37%
Fuel prices in New Zealand climbed 13% in April, with diesel surging close to 37% on the impact of the Iran war on the global oil market. Food prices were broadly flat over the same period.
New Zealand's statistics agency said fuel prices rose 13% in April compared with the previous month. The annual jump in diesel prices reached about 37%.
RNZ Business reports that the increase reflects the impact of the Iran-war oil-price shock on the domestic economy. Food prices, by contrast, were broadly flat over the same period and helped cushion the consumer basket.
The price increases are also feeding into transport and freight costs for businesses. Air New Zealand's decision to cut 5% of its flights stands out as one of the most visible knock-on effects of the fuel crisis.
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