Brent crude oil eclipsed US$110 ($185) a barrel for the first time in three and a half years before dropping back under US$90. Parham said Waitomo’s prices had gone up around 10-15 cents on petrol and 20-plus cents on diesel. “We are really seeing diesel being impacted more than petrol at this stage because of the crude that comes out of the Middle East. This morning, Air New Zealand said it was suspending its earning guidance because of volatile jet fuel prices. Jet fuel prices were about US$85 to US$90 per barrel before the conflict but had surged to US$150-US$200 in recent days.

Source: New Zealand Herald March 09, 2026 23:56 UTC