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12 Aug 2022 5:20
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  •   Home > News > Business

    Soaring petrol prices could be reducing demand

    Soaring petrol prices could be reducing demand


    Motorists are still struggling to avoid pain at the pump, with the country hitting a record high for the cost of importing petrol.

    Importers paid $1.59 per litre for 91, and $1.62 for 95 in the week to May 20th - 90 cents higher than the same week last year.

    Z Energy Chief Executive Mike Bennetts says demand this week compared to the same time last year is down about 15 per cent .

    He says some of it's likely to be Covid-related as people work from home more, and he thinks high prices are reducing how much they drive.

    © 2022 Newstalk ZB, NZCity

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