The extra cost of petrol is not just Ukraine

According to MBIE data, here is how much the taxes on petrol have gone up since September 2017:

• ETS from 2.6 c to 18.1c
• GST from 24.6c to 37.5c
• Excise tax from 91.1c to 118.0c

So that is an extra 55.3 cents a litre going to the Government. The overall price is $1.02 a litre more than in Sep 2017, so more than half the increase is due to Government taxes.

Around 3.2 billion litres of petrol are sold in NZ every year so the extra revenue for the Government from petrol sales is $1.77 billion a year!