Photo: RNZPetrol prices could start rising by the end of the week as the Middle East conflict goes on, one industry head says. Waitomo Group chief executive Simon Parham told Checkpoint it would not be surprising to see the price of unleaded fuel hit $3 per litre in some places. There is concern the strait could become a chokepoint; forcing petrol and commodity prices up around the globe. While there was potential for fuel prices to hit $3 per litre, Parham stressed that the cost of petrol and diesel was always relative. "We've got about 20-odd days' supply and that's part of our minimum stock holding and that's in country.

Source: Otago Daily Times March 04, 2026 18:34 UTC