Price of gasoline in New Zealand 2013-2023 by type

In 2023, the average price of premium petrol was around 2.48 New Zealand dollars per liter, while regular petrol was priced at around 2.29 New Zealand dollars per liter. This represented a price decrease for both premium and regular petrol compared with the previous year. 

Do costs drive consumption?

When looking at the average quarterly price of gasoline in New Zealand, a steady increase for both premium and regular petrol can be observed over the past five quarters. New Zealanders consume significantly more regular petrol compared to premium, and this likely comes down to cost. Nevertheless, during the height of the COVID-19 pandemic in 2020 and 2021, overall consumption of petrol declined across the country.

Fuel taxes make up half the cost of petrol

The New Zealand government collects around one NZD per liter in the form of a petrol tax. Most of this is a fuel excise made up of national and local taxes and levies. Additionally, motorists in New Zealand are charged GST on the fuel excise. The taxation on diesel fuel is slightly different. While the price per liter for diesel fuel was less expensive at the pump, diesel vehicle owners must pay Road User Charges.