Government playing down impact Iran conflict could have on energy prices

The government is playing-down impact the Iran conflict could have on energy prices here, as global oil and gas prices surge in the wake of the attacks by the US and Israel. It's seen traffic grind to a halt through the Strait of Hormuz, a crucial shipping route connecting the Persian Gulf with open ocean. The price of brent crude oil has risen by around 9 percent since, while Goldman Sachs is forecasting liquefied natural will more than double in price if the disruption continues through March. A leading economist says Kiwi motorists will start to see significant price rises at the pump in the coming weeks. Giles Dexter reports.