18 Sep 2019

Z defends petrol price hike after Saudi oil saga

From Checkpoint, 5:10 pm on 18 September 2019

Z Energy is defending yesterday's six cent price hike, saying that's how much it would have cost to replace the fuel in its tanks.

Z and BP both increased their prices by six cents after drone attacks on Saudi oil facilities at the weekend caused global oil prices to spike.

The price of crude oil has since fallen more than six percent, prompting Gull - which kept its prices the same - to accuse its competitors of jumping the gun.

So are fuel companies taking advantage of global events to fleece motorists?