Petrol company Gull says tells motorists there’s no need to panic over fuel as it keeps its prices steady for the weekend.
Mike Turner, Gull’s retail operations manager, wanted to reassure motorists the company had enough fuel supply.
He said prices would be reviewed over the next week, but no "drastic shifts" in its fuel prices would occur over the weekend.
“Pricing over the last two weeks has been volatile. There are [a] number of factors that could play out over the next few weeks, and uncertainty in the markets typically translates to increases at the pump."
Turner added that while higher demand for fuel was putting pressure on some of its sites, Gull was quickly topping up its national network.
As of Saturday morning, fuel finding app Gaspy showed fuel prices in central Auckland and Wellington were between $3.20 to $3.25 a litre for 91 across multiple retailers.
In Hauraki in Auckland's North Shore, one BP 1News visited was selling 91 at $3.24 per litre. Meanwhile, in a Gull in East Auckland's Pakuranga, 91 was priced at $3.05 a litre.
In Christchurch, 91 was around $3 a litre, according to Gaspy.
The AA predicted petrol could reach $4 a litre, driven by sanctions on Russia for its invasion of Ukraine.
Economist Shamubeel Eaqub shares his thoughts on how long it’s expected to last. (Source: Seven Sharp)
Kiwis could see prices at the pump rise for a while yet as Russia’s invasion of Ukraine continues into its third week, economist Shamubeel Eaqub told Seven Sharp on Friday.
On Friday afternoon, Waitomo Group said they had been advised by their supplier that costs are increasing and 6pm Friday would see the biggest single price rise the company has ever had, according to spokesperson Greta Shirley.
Diesel then jumped by 30 cents and petrol by 20 cents, although prices varied at different stations around New Zealand.
Long queues of cars were seen at various petrol stations on Friday night.
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