Petrol prices in New Zealand, like other countries, have risen sharply since Russia’s invasion of Ukraine began in February, contributing to high inflation
New Zealand announced today that it is extending cuts to fuel excise duty, road user charges and public transport fares for five months, until the end of January, as families struggle to cope with higher living costs amid inflationary pressures .
Gasoline prices in New Zealand, like other countries, have risen sharply since Russia’s invasion of Ukraine began in February, contributing to high inflation. Food prices increased by 1.2% in June, while they recorded an increase of 6.6% compared to the corresponding month last year.
“There is no easy fix for the cost of living, but we are taking a number of measures to ease the pressure on familiesFinance Minister Grant Robertson said in a statement. “We want New Zealanders to have some certainty in the coming months in the face of volatile pump prices».
The government in March cut fuel excise duty by 25 cents a liter and road user charges – a charge on diesel vehicle users – by three months. The temporary measure was extended again in May until mid-August.
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