Soaring petrol prices could be reducing demand
Soaring petrol prices could be reducing demand
30 May 2022
Motorists are still struggling to avoid pain at the pump, with the country hitting a record high for the cost of importing petrol.
Importers paid $1.59 per litre for 91, and $1.62 for 95 in the week to May 20th - 90 cents higher than the same week last year.
Z Energy Chief Executive Mike Bennetts says demand this week compared to the same time last year is down about 15 per cent .
He says some of it's likely to be Covid-related as people work from home more, and he thinks high prices are reducing how much they drive.
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