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On 1 July 2023, the fuel tax cuts were removed. [5] People lined up at petrol stations before the tax cuts ended, and many people took multiple trips. [3] Some people urged motorists to refuel early to avoid queues or fuel shortages. [6] The end of the subsidy caused a large increase in the number of Gaspy users, a fuel price monitoring app. [7]
Waitomo Group warned of rising fuel prices when the 2022 Russian invasion of Ukraine began in late February 2022. [10] The Waitomo Group petrol station in Papanui, Christchurch sold out of fuel on 11 March 2022, after the company announced its intention to raise fuel prices. [11] Long queues were reported at other Waitomo stations around the ...
As of August 2021, NPD has 96 petrol stations, most being in the South Island. According to a study from the Commerce Commission, NPD "appeared to have the most impact on the oil majors' prices". [5] As of May 2020 it has 150 staff. [6] According to Gaspy, NPD and Waitomo had the lowest fuel prices in New Zealand in 2019. [2]
The largest component of the average price of $2.80/gallon of regular grade gasoline in the United States from 2012 through 2021, representing 54.8% of the price of gas, was the price of crude oil. The second largest component during the same period was taxes—federal and state taxes representing 17% of the price of gas.
The 2007 fuel tax was €0.684 per litre (€2.59/US gal; €3.11/imp gal). On top of that is 21% VAT over the entire fuel price, making the Dutch taxes one of the highest in the world. In total, taxes account for 68.84% of the total price of petrol and 56.55% of the total price of diesel. [20]
The 1973 and 1979 energy crisis had caused petroleum prices to peak in 1980 at over US$35 per barrel (US$129 in today's dollars). Following these events slowing industrial economies and stabilization of supply and demand caused prices to begin falling in the 1980s. [ 26 ]
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The oil and gas industry in New Zealand explores and develops oil and gas fields, and produces and distributes petroleum products and natural gas. In 2022, New Zealand's net self-sufficiency in oil (production divided by consumption) was 12%, i.e. the country imported much more crude and refined oil than it exported. [1]