Dubai Crude is a medium sour crude oil extracted from Dubai. Dubai Crude is used as a price benchmark or oil marker because it is one of only a few Persian Gulf crude oils available immediately.
Importer margin: the gross margin available to the retailers to cover domestic transportation, distribution and retailing costs within New Zealand, as well as profit margins. It is calculated as the difference between the discounted price less duties, taxes, levies, the New Zealand Emissions Trading Scheme (ETS) and the importer cost. The calculation of importer margins was adjusted in September 2015 to include discounting activity. This adjustment has been carried back to October 2006.
Importer cost: the cost of importing the fuel to New Zealand. It includes the cost of purchasing the fuel in Singapore, shipping it to New Zealand, insurance and losses, and wharfage and handling.
Discounted price: the main port price less an estimated discount.
Main port price: a weekly average of retail prices in Auckland, Hamilton, Wellington, and Christchurch.
Premium petrol 95 R: the most common unleaded premium petrol with 95 octane rating.
New Zealand petrol and diesel retail prices presented here represent weekly average retail prices from Auckland, Hamilton, Wellington and Christchurch: the main port price. These prices from October 2006 onwards have been adjusted to account for the significant discounting activity (through loyalty schemes, shopper coupons and regional discounting) that has become increasingly common since about 2006, and are referred to as the discounted price.
The level of discount is estimated each quarter by comparing the quarterly average main port price to the quarterly average retail price collected by Stats NZ as part of their Consumers Price Index (CPI) calculations. Stats NZ compile this price series by surveying a selection of service stations in 12 regions of New Zealand, as well as collecting information about discounting from the major fuel retailers.
Road User Charges are not included in the price of diesel.
Changes to data collection/processing
In December 2018 the provider applied 2 adjustments to the data to ensure the Auckland regional fuel tax is reflected in the data:
- the retail price series was adjusted, to account for price differences between Auckland and the rest of the country
- a weighted-average regional fuel tax has been added to the duties, taxes and direct levies data to account for the 10 cents per litre tax applicable only in the Auckland region.