Rising fuel prices September–October 2026

The story so far

Petrol prices in New Zealand climbed sharply from late September, with the average price of 91-octane petrol rising to just over $3.45 a litre after a 51c increase over 28 days, close to the peak seen in April and May during the conflict between the United States, Israel and Iran.^{28 Sep} The rise began to affect businesses, with the ANZ survey showing business confidence easing by two points in September after a 22% increase in retail fuel prices over the past month, though optimists still outnumbered pessimists.^{30 Sep} Z Energy said fuel supplies were secure through the end of the year, with stocks at their highest since the US-Iran war, but warned that global stockpile depletion and geopolitical developments could push prices higher.^{2 Oct} By early October petrol had reached its highest price since the start of the Iran war, and Cantabrians were reported to be feeling the pain at the pump.^{5, 8 Oct} An ASB survey found 73 per cent of businesses were concerned about current and future energy costs, the second-biggest concern after general economic uncertainty.^{8 Oct}

Latest

Average 91-octane prices reached $3.60 a litre and diesel about $3.23 a litre, with crude oil producers, refinery owners and the New Zealand government among those seeing increased profits.^{12 Oct}

Key moments

1. 28 SepAverage 91 petrol rises 51c in 28 days to just over $3.45 a litre
2. 30 SepANZ survey shows business confidence easing as fuel prices climb 22%
3. 2 OctZ Energy says supplies are secure but warns of upward price pressure
4. 5 OctPetrol price hits highest level since the start of the Iran war
5. 8 OctASB survey finds 73 per cent of businesses worried about energy costs
6. 12 OctAverage 91 reaches $3.60 a litre and diesel about $3.23
7. 16 OctSome motorists pay over $4 a litre; national average reaches $3.80

Written from the stories below; each sentence links to its sources.