Nearly a month into the US and Israeli war on Iran, there’s still no end in sight as the disruptions in international oil production and shipping drive prices higher and higher.
The national average price of Unleaded 91 at the pumps has risen 35 percent over 28 days to $3.38 per litre as of Wednesday, with the average price for diesel jumping up 80 percent to $3.26. This is of little surprise when Iran has retaliated by mining and blockading the Strait of Hormuz. Normally, around 20 percent of the world’s oil moves through the Strait.
On Waiheke, where pump prices are consistently significantly higher than the national average price – Unleaded 91 was up to $4.12 per litre this week at BP, while Unleaded 95 was $4.39 and diesel was $3.84 per litre. As of Tuesday 24 March, Challenge and GAS had manged to keep prices a little lower – at $4.10 and $3.97 a litre respectively.
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