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22 May 2022 4:18
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  •   Home > News > Business

    A number of factors are driving petrol prices upwards

    A number of factors are driving petrol prices upwards


    AA principal policy adviser Terry Collins says prices could hit three dollars by the end of this year.

    Collins says as we move to green energy, investment's shifting from sourcing hydrocarbons like gas and oil - to renewable energy.

    He says oil and gas discovery last year was at its lowest rate in 75 years.

    Collins says producers can maintain current production, but the long term outlook is not particularly good.

    He says that's good for the climate, but in the short term it means hydrocarbons go up in price.

    © 2022 Newstalk ZB, NZCity

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