Oil Price Jumps ..+ Petrol going up SUNDAY (tax )
I see oil has jumped another US$ 3.00 a barrel overnight too almost 83 so with the tax that is going on on Monday and this increase I expect the petrol companies too add their price increase as well.
{ Just checked and the tax increase is 3.5 cents on Sunday , not Monday }
As a matter of interest the price of oil was US$ 55 when the election was held last year and has now reached a shade under US$ 83 a barrel. A slight decrease in the Kiwi has added too that and I believe a new tax country wide is coming into effect Monday. With Trump putting sanctions on Venezuela and their oil plus the new sanctions on Iran preventing their exporting of oil coupled with boith OPEC and Russia refusing too accept Trumps demands they increase production too make up the shortfall has and is pushing the price of oil . There were predictions of oil hitting 100 a barrel by Christmas months ago which I seriously doubted but now they are starting too look more likely or heading that way. Remember way back in 2009 was it when oil hit US$ 145/150 petrol hit $2.25 in NZ . But as some people say ?? at least petrol is cheaper than milk or water ..
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