Quake and Libya cause petrol to rise
Petrol prices have risen to a new two-year high, though motorists in Christchurch will get a respite. 
HIGH COST: Global Petrol price are up again thanks to a lower dollar fell and unrest in the Middle East.
New Zealand's four major fuel retailers, BP, Caltex, Mobil and Greenstone (Shell), have all increased prices by five cents a litre, with 91 octane, the most popular grade of fuel, costing $2.079 a litre at most stations.
Regular unleaded petrol peaked about $2.20/litre in 2008.
All oil companies have held off raising prices in the Christchurch area in the wake of last week's earthquake, and Caltex has not increased its price anywhere in the South Island.
The latest increase follows a plunge in fuel margins last week, as the Kiwi dollar fell on fears the earthquake would hurt the economy, while international prices jumped amid fears of civil war in Libya.
Greenstone chief executive Mike Bennetts said price increases the company faced could have led to a rise of 10c to 15c a litre in normal
circumstances.
Brent crude oil prices pushed back above US$114 a barrel on Tuesday as supply disruptions and the potential for more as unrest in the Middle East and North Africa spreads kept investors on edge.
US crude also rose sharply, pushing above US$99 a barrel.
Source:Fairfax
