14 Jul 2013

Higher fuel prices curb retail spending - Briscoe director

2:37 pm on 14 July 2013

Briscoe Group executive director Rod Duke warns higher fuel prices could drastically curb retail spending.

Motorists are paying record high petrol prices after a rise in excise on 30 June and subsequent price increase by oil companies, due in part to a lower New Zealand dollar.

Mr Duke said major jumps in fuel costs force people to spend less at the shops because they still need their car to get around.

He said the last major rise in fuel prices cost retailers dearly.

Briscoe Group runs the Rebel Sport, Briscoes Homeware, and Living & Giving chains.