Credit to Nash

Hawke’s Bay Today, Hawke’s Bay 07 Jul 2017

All credit to Napier MP Stuart Nash for getting an inquiry into the high pump price of petrol, currently $1.819 a litre at Z Energy.

However, while the report draws attention to the increase in retail gross margins from about 13 cents per litre in 2013 to 21.3c this year, it ignores the high level of government excise and tax.

This includes 59.524c to the Land Transport Fund, 6c to ACC, 0.66c local authorities fuel tax, 0.3 cents for monitoring, and 2.5 cents to fight global warming.

There is also the GST component of 15 per cent. Hawke’s Bay motorists might be interested in a quick comparison with the United States, where petrol tax (state and federal) is around 13c a litre.

There, pump prices range from $US1.88 to $US3 per gallon, which, in NZ dollars, is 69c to $1.08 per litre.

Mike Butler Hastings

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