Poneke provides a sobering but welcomed warning of an imminent hike in petrol prices, noting the rise in the price of oil in the last week, and the concurrent fall in the $NZ
http://poneke.wordpress.com/2008/05/08/gas-7/
To date, we have been somewhat cushioned from the worst of the price rises by the high dollar due to the weak $US. However, as our currency loses ground, anything is possible. It was only around New Year that the price of oil first went through the $US100/barrel mark - four months down the track, it's blown out a further 20%, with no sign of stabilising.
Hat-tip: Poneke
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