6 Jan 2012

Pressure on pumps won't lead to rises this weekend

7:11 pm on 6 January 2012

Petrol retailers say fuel prices shouldn't rise in the next few days despite international pressure forcing up the price of oil.

Z Energy, which supplies about a third of New Zealand's petrol, says a potential European Union ban on oil imports from Iran and possible disruptions to shipping through the Hormuz Strait has raised fuel prices by about 7 cents.

Both Z Energy and Caltex say they won't pass the extra cost to consumers over the weekend, while many families are heading home after the summer holidays.

However, the retailers say they can't rule out raising prices next week if the international situation doesn't change.

BP and Mobil could not be reached for comment.