Petrol prices hit record high

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New Zealand petrol prices have hit a record high and show no signs of dropping.

Currently the price for 91 unleaded petrol has hit $3.40 a litre.

However, the Automobile Association of New Zealand believe that the price will soon hit $4 a litre for petrol.

There are a number of reasons for the price increase. The price of crude oil has increased to nearly $US140 a barrel.

Added to this the war in the Ukraine has Europe has caused an issue with the global supply chain.

The impacts from rising petrol costs an that prices for other items will also increase over the next few weeks.

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