Petrol prices in New Zealand have surpassed $3 per litre, a development that comes nearly two months after the government’s fuel tax subsidy was discontinued.
The subsidy, which provided a 25-cent reduction at fuel pumps, was implemented in response to concerns about the rising cost of living.
The recent increase in petrol prices is having a significant impact on some New Zealanders, such as an Uber driver who stated that he is finding it difficult to cover expenses after spending over $300 on petrol per week. The driver mentioned that after accounting for taxes, car maintenance, fuel costs, and Uber commission, he’s left with only around $4 for every $10 earned. This situation is leaving him with a net income of around $200 per week, even if he’s fortunate.
Over the last six weeks, petrol prices have surged by approximately 55 cents per litre, as reported by the Automobile Association.