![[Sharetank] Unleaded 91 $2.319 @ Z Botany / Takanini (Auckland)](https://files.cheapies.nz/n/03/48103.jpg?h=c54c67f3)
Looks like Z is following the price drops by Gull / NPD. Cheapest appears to be South Auckland $2.319 although for West Auckland Te Atatu is at $2.339
[Sharetank] Unleaded 91 $2.319 @ Z Botany / Takanini (Auckland)
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Why is petrol dropping in price so much over the past few weeks?
Crude oil is down compared to 6 months ago. This is measured in US$.
NZ$ is stronger against the US$ over that period, or rather the US$ has dropped a bit.Crude oil (https://finance.yahoo.com/quote/USO/) is up 2.21% over the last 6 months, while the NZD vs USD has appreciated 1.19% (https://finance.yahoo.com/quote/NZDUSD%3DX/) in the same time. Even factoring in the removal of the Regional Fuel Tax it still doesn't explain the drop from circa 2.80/L to 2.30-2.50 a litre
Must be Comcom investigative period. Once period is over, up goes the prices lol
Zooming in and out the charts; I think one gets the picture why petrol prices seem cheaper.
In general terms the US Dollar is weaker lately influenced by economic factors domestically but also internationally eg Japan and China.
Crude (and Brent) for that matter has been quite volatile and shifting a monthly/ half yearly/ annual period a few weeks indicates that. Pick a reason: OPEC/, geo political, SPR decisions and policies amongst others, and locally the drop of the regional fuel tax by the ‘new’ government.
Add to that the ‘Gull-, Costco-, PnS-effect’ and special fuel days, this morning appeared to be a good day in Auckland to fill up compared to a selected time period prior.
Today can be explained by Gull dropping their prices, with Z immediately responding by dropping theirs. I know this cos I work at Z, we have to take photos of other nearby petrol stations' prices and upload them to the system, upper management then issues the price changes
But Z usually does not price match, so why the change? Losing market share?
Might depend on the site/ management. As far as I can tell they have always changed their prices based on competitors, or lowered their prices to get a bit closer to competitors but not quite matched
An example is Z Frankton in Hamilton which seemed to have the same (or just above) the price as New World petrol across the road, which for some reason had some of the lowest prices in the country for a while (I used to drive past almost every day). Meanwhile Z Rotokauri which is about 1 km away, were 10-20cpl more expensive than Frankton for a good couple of years
They seem to be more reactive now, could be because they're losing market share like you said? They used to have permanently cheaper carwash prices at a certain site (Greenlane) I was working at because of the competition of a carwash nearby.
This is all my speculation based on working here 3ish years
I just missed out, its $2.35 for me now.
$2.32 now in rewa
I have $2.35 too
Gaspy has rewa at 2.329 and many others at 2.339 but share tank cheapest offer is 2.359. I'm in Wiri atm, hmmmmn
2.27 at paknsave porirua in wellington
Gaspy is telling me that Pak n Save Botany is now $2.25
lol anyone tried asking a nearby Z to pricematch?
It's not something customers can ask unfortunately, it's just a reactive move from management based on nearby competitor stations. Inner workings of this are a mystery to me
I share the view that these current extra low prices are temporary and will quite likely come back up abit. (Why - M.E tensions, and most OPEC oil producers generally hate it when crude oil pricing staying low in $70s USD a barrel. They will generally try to push it up back into the 80s +). (Brent is the indicator type in the case of alot of petrol pricing). An interesting fact too from our closest comparable country market Australia: Friends on Northshore Sydney paying just $1.65 - $1.70 AUD 91 petrol pump price at major branded stations for recent weeks. Then suddenly today or last few days ? - it's jumped big time to $1.98 or so !. So yeah the real possibility we are going to see higher pricing soon ?. I was out with friends this arvo , he filled up Mobil Epsom Auckland $2.39 - 91 petrol discount price. And I've just Z share tanked up abit at $2.36, showing at Z Te Atatu from my N.S location. 🌞
I was reading about Libya and how opec shut down thier production over the central bank.
Z app Chch - 91/2.459, 95/2.649, D/1.739
Anyone seeing it lower than that in chch?
Good time for sharetank or price coming down?