Petrol hits a record $3.60 a litre as the kiwi dollar sinks to a multi-year low
Gaspy data reported by RNZ and the New Zealand Herald put average 91-octane petrol at $3.60 a litre and diesel at about $3.23, a record at the pump. Newsroom reported that the kiwi dollar hit a multi-year low as petrol moves towards $4 a litre, adding pressure to household costs and to the Reserve Bank. Reuters reported the US dollar staying near an 18-month high while the Middle East conflict and US inflation data are in focus. DailyDrop could not confirm Monday’s NZD/USD level or NZX 50 close from two sources.
Petrol is bought weekly and moves inflation expectations. A falling kiwi dollar and dearer oil together push the same way, which complicates the Reserve Bank’s choices on interest rates.
A fill-up costs noticeably more than a year ago. Compare prices on an app such as Gaspy, and expect imported goods to creep up if the kiwi stays weak.
One reading: much of the rise comes from global oil and the weak currency, neither of which a New Zealand government controls.
Another reading: governments can still ease the burden through taxes and support, which National’s plan rules out for now.
A record price is a campaign issue as well as a market one. Watch whether any party puts a fuel-cost promise on the table before 7 November.
DailyDrop New Zealand edition No. 9 · Morning · TUE., OCT. 13, 2026