Hale & Twomey New Zealand Fuel Price Monitor

 
 

Fuel-Tab for the week ending 6 Mar 2009

Hale & Twomey market update

  • Oil demand continues to contract, even in developing countries like China & India while OPEC remains focussed on achieving reduced quotas.
  • Refiners are being squeezed with higher crude prices and poor product prices from high inventories and weak demand.
 
 

Regular petrol Print this product tab

Landed cost

73.39 NZ cpl

Change Offset
1.01 Against last week
Influence Change  Current 
Crude component 1.25 57.08
Refining component 3.59 10.91
Shipping component 0.46 5.40
Forex impact 1.79 -
Total landed cost   73.39

Landed cost notes

  • All figures in NZ cents per litre (NZ cpl).
  • Landed cost is the cost to import petrol into NZ, and is influenced by the international market price for:
    • Crude, based on a typical mix of crude oil used in refining;
    • Refining crude oil into NZ specification petrol;
    • Shipping the petrol to NZ.
  • Forex impact: Petrol is purchased in US dollars and sold in NZ dollars. Movement in the exchange rate affects the landed cost and is shown separately.

Current retail price

163.90 NZ cpl

Change Offset
1.80 Against last week
Influence Change  Current 
Landed cost 1.01 73.39
Oil company costs and margin 0.59 19.73
Duties and excise taxes - 52.57
GST 0.20 18.21
Total retail cost   163.90

Current retail price notes

  • All figures in NZ cents per litre (NZ cpl).
  • Oil company costs and margin on retail fuel includes all wholesale and retail costs to deliver and market the product, and a return on investment.
  • Duties and excise taxes for petrol are:
    - Excise tax42.524 cpl
    - ACC levy7.330 cpl
    - Petroleum Fuels Monitoring Levy0.025 cpl
    - Local Authorities Petroleum Tax0.660 cpl

Regular petrol market influences

  • Concern about planned regional increases in petrol production (Reliance refinery) is causing regional refining margins to slump.
  • Despite the weaker Kiwi offsetting the lower prices, oil co costs & margins remain strong, indicating room for a price drop.
 
 

Landed cost of regular petrol for the six months to 06 Mar 2009 in NZ and US dollars

Landed cost

Retail price buildup of regular petrol for the six months to 06 Mar 2009

Landed cost

Oil company costs and margin for regular petrol for the six months to 06 Mar 2009

Landed cost
 
 

Historical data

Download Regular petrol price data for the 12 months to 6 Mar 2009.

Regular petrol historical data

Premium petrol Print this product tab

Landed cost

79.31 NZ cpl

Change Offset
1.83 Against last week
Influence Change  Current 
Crude component 1.25 57.08
Refining component 4.57 16.73
Shipping component 0.47 5.50
Forex impact 1.96 -
Total landed cost   79.31

Landed cost notes

  • All figures in NZ cents per litre (NZ cpl).
  • Landed cost is the cost to import petrol into NZ, and is influenced by the international market price for:
    • Crude, based on a typical mix of crude oil used in refining;
    • Refining crude oil into NZ specification petrol;
    • Shipping the petrol to NZ.
  • Forex impact: Petrol is purchased in US dollars and sold in NZ dollars. Movement in the exchange rate affects the landed cost and is shown separately.

Current retail price

168.90 NZ cpl

Change Offset
1.80 Against last week
Influence Change  Current 
Landed cost 1.83 79.31
Oil company costs and margin 0.23 18.25
Duties and excise taxes - 52.57
GST 0.20 18.77
Total retail cost   168.90

Current retail price notes

  • All figures in NZ cents per litre (NZ cpl).
  • Oil company costs and margin on retail fuel includes all wholesale and retail costs to deliver and market the product, and a return on investment.
  • Duties and excise taxes for petrol are:
    - Excise tax42.524 cpl
    - ACC levy7.330 cpl
    - Petroleum Fuels Monitoring Levy0.025 cpl
    - Local Authorities Petroleum Tax0.660 cpl

Premium petrol market influences

  • Concern about planned regional increases in petrol production (Reliance refinery) is causing regional refining margins to slump.
  • Despite the weaker Kiwi offsetting the lower prices, oil co costs & margins remain strong, indicating room for a price drop.
 
 

Landed cost of premium petrol for the six months to 06 Mar 2009 in NZ and US dollars

Landed cost

Retail price buildup of premium petrol for the six months to 06 Mar 2009

Landed cost

Oil company costs and margin for premium petrol for the six months to 06 Mar 2009

Landed cost
 
 

Historical data

Download Premium petrol price data for the 12 months to 6 Mar 2009.

Premium petrol historical data

Ethanol Print this product tab

Landed cost

85.14 NZ cpl

Change Offset
2.73 Against last week
Influence Change  Current 
Ethanol price 4.84 65.50
Shipping component 0.01 19.64
Forex impact 2.12 -
Total landed cost   85.14

Landed cost notes

  • All figures in NZ cents per litre (NZ cpl).
  • Landed cost is the cost to import ethanol into NZ, and is influenced by the international market price for:
    • Ethanol, based on the export Brazil price;
    • Shipping the ethanol to NZ.
  • Forex impact: Ethanol is purchased in US dollars and sold in NZ dollars. Movement in the exchange rate affects the landed cost and is shown separately.

Blended cost

96.45 NZ cpl

Change Offset
2.73 Against last week
Influence Change  Current 
Landed cost 2.73 85.14
Storage and blending cost - 10.60
Duties and excise taxes - 0.71
Total retail cost   96.45

Blended cost notes

  • All figures in NZ cents per litre (NZ cpl).
  • Storage and blending costs are H&T’s assessment of the costs for storing and then blending ethanol into petrol.
  • Duties and excise taxes for ethanol are:
    - Excise taxexempt
    - ACC levy7.330 cpl
    - Petroleum Fuels Monitoring Levy0.025 cpl
    - Local Authorities Petroleum Tax0.660 cpl

Ethanol market influences

  • Ethanol prices are declining as producers sell inventory to generate cash now, rather than holding the inventory to sell during the off-season.
  • Regulators in the US are investigating the suitability of 15% ethanol blends for non flexi fuel vehicles.

Retail price

Retail price impact Change  Current 
Regular petrol 1.80 163.90
E5 (regular with 5% ethanol) 1.90 162.24
E10 (regular with 10% ethanol) 2.00 160.58

Retail price impact notes

  • All figures in NZ cents per litre (NZ cpl).
  • Retail price impact indicates how the retail price of regular petrol may change with ethanol addition.
  • Ethanol has a lower energy content than petrol per litre (about 67%), but a higher octane.
 
 

Landed cost of ethanol for the six months to 06 Mar 2009 in NZ and US dollars

Landed cost

Differential cost of E10 against regular petrol for the six months to 06 Mar 2009

Landed cost
 
 

Historical data

Download Ethanol price data for the 12 months to 6 Mar 2009.

Ethanol historical data

Diesel Print this product tab

Landed cost

72.78 NZ cpl

Change Offset
0.01 Against last week
Influence Change  Current 
Crude component 1.25 57.09
Refining component 2.51 9.69
Shipping component 0.51 6.00
Forex impact 1.76 -
Total landed cost   72.78

Landed cost notes

  • All figures in NZ cents per litre (NZ cpl).
  • Landed cost is the cost to import diesel into NZ, and is influenced by the international market price for:
    • Crude, based on a typical mix of crude oil used in refining;
    • Refining crude oil into NZ specification diesel;
    • Shipping the diesel to NZ.
  • Forex impact: Diesel is purchased in US dollars and sold in NZ dollars. Movement in the exchange rate affects the landed cost and is shown separately.

Current retail price

100.90 NZ cpl

Change Offset
1.80 Against last week
Influence Change  Current 
Landed cost 0.01 72.78
Oil company costs and margin 1.59 16.53
Duties and excise taxes - 0.38
GST 0.20 11.21
Total retail cost   100.90

Current retail price notes

  • All figures in NZ cents per litre (NZ cpl).
  • Oil company costs and margin on retail fuel includes all wholesale and retail costs to deliver and market the product, and a return on investment.
  • Duties and excise taxes for diesel are:
    - Excise taxcovered by RUC
    - ACC levycovered by RUC
    - Petroleum Fuels Monitoring Levy0.025 cpl
    - Local Authorities Petroleum Tax0.660 cpl

Diesel market influences

  • Weak demand and high inventory levels continue to weigh on regional diesel prices, with refining margins compressing further.
  • The weaker Kiwi is offsetting these lower prices with oil co costs & margins remaining at the higher end of the typical range.
 
 

Landed cost of diesel for the six months to 06 Mar 2009 in NZ and US dollars

Landed cost

Retail price buildup of diesel for the six months to 06 Mar 2009

Landed cost

Oil company costs and margin for diesel for the six months to 06 Mar 2009

Landed cost
 
 

Historical data

Download Diesel price data for the 12 months to 6 Mar 2009.

Diesel historical data

Biodiesel Print this product tab

Landed cost

147.71 NZ cpl

Change Offset
3.59 Against last week
Influence Change  Current 
Biodiesel component 0.12 132.97
Shipping component 0.01 14.74
Forex impact 3.48 -
Total landed cost   147.71

Landed cost notes

  • All figures in NZ cents per litre (NZ cpl).
  • Landed cost is the cost to import biodiesel into NZ, and is influenced by the international market price for:
    • Biodiesel, based on the Malaysian palm olein price plus manufacturing cost;
    • Shipping the biodiesel to NZ.
  • Forex impact: Biodiesel is purchased in US dollars and sold in NZ dollars. Movement in the exchange rate affects the landed cost and is shown separately.

Blended cost

159.19 NZ cpl

Change Offset
3.59 Against last week
Influence Change  Current 
Landed cost 3.59 147.71
Storage and blending cost - 11.10
Duties and excise taxes - 0.38
Total retail cost   159.19

Blended cost notes

  • All figures in NZ cents per litre (NZ cpl).
  • Storage and blending costs are H&T’s assessment of the costs for storing and then blending biodiesel into diesel.
  • Duties and excise taxes for biodiesel are:
    - Excise taxcovered by RUC
    - ACC levycovered by RUC
    - Petroleum Fuels Monitoring Levy0.025 cpl
    - Local Authorities Petroleum Tax0.660 cpl

Biodiesel market influences

  • Even with feedstock prices stabilising many worldwide producers are struggling to make profits.
  • Locally the weaker Kiwi continues to undermine biodiesel's competitiveness in this fledgling market.

Retail price

Retail price impact Change  Current 
Diesel retail price 1.80 100.90
B5 (diesel with 5% biodiesel) 1.60 105.74

Retail price impact notes

  • All figures in NZ cents per litre (NZ cpl).
  • Retail price impact indicates how the retail price of diesel may change with biodiesel addition.
 
 

Landed cost of ethanol for the six months to 06 Mar 2009 in NZ and US dollars

Landed cost

Differential cost of B5 against diesel for the six months to 06 Mar 2009

Landed cost
 
 

Historical data

Download Biodiesel price data for the 12 months to 6 Mar 2009.

Biodiesel historical data

Jet A1 Print this product tab

Landed cost

66.92 NZ cpl

Change Offset
0.94 Against last week
Influence Change  Current 
Crude component 1.25 57.09
Refining component 3.33 4.04
Shipping component 0.49 5.79
Forex impact 1.63 -
Total landed cost   66.92

Landed cost notes

  • All figures in NZ cents per litre (NZ cpl).
  • Landed cost is the cost to import jet fuel into NZ, and is influenced by the international market price for:
    • Crude, based on a typical mix of crude oil used in refining;
    • Refining crude oil into international specification jet fuel;
    • Shipping the jet fuel to NZ.
  • Forex impact: Jet fuel is purchased in US dollars and sold in NZ dollars. Movement in the exchange rate affects the landed cost and is shown separately.

Landed cost (US cents per gallon)

126.15 US cpg

Change Offset
4.83 Against last week

Jet A1 market influences

  • Refining margins have nearly halved from last week's already low levels as the weak demand continues, and inventory levels remain high.
  • The weaker Kiwi is partially offsetting these lower prices.
 
 

Landed cost of Jet A1 for the six months to 06 Mar 2009 in NZ and US dollars

Landed cost
 
 

Historical data

Download Jet A1 price data for the 12 months to 6 Mar 2009.

Jet A1 historical data

Fuel oil Print this product tab

HFO (180cSt) landed cost

540.14 NZD/tonne
51.26 NZ cpl

Change Offset
14.48 Against last week
Influence Change  Current 
Crude component 13.16 601.54
Refining component 34.89 -131.67
Shipping component 6.11 70.27
Forex impact 13.36 -
Total landed cost   540.14

HFO landed cost notes

  • All figures in NZ dollars per tonne (NZD/tonne).
  • Landed cost is the cost to import heavy fuel oil (180cSt) into NZ, and is influenced by the international market price for:
    • Crude, based on a typical mix of crude oil used in refining;
    • Refining: fuel oil is a residual product of the refining process and trades at a discount to crude oil;
    • Shipping the fuel oil to NZ.
  • Forex impact: Fuel oil is purchased in US dollars and sold in NZ dollars. Movement in the exchange rate affects the landed cost and is shown separately.

LFO (40cSt) landed cost

641.14 NZD/tonne
58.79 NZ cpl

Change Offset
10.18 Against last week

LFO landed cost notes

  • All figures in NZ dollars per tonne (NZD/tonne).
  • Light fuel oil is based on a blend (by mass) of:
    • 70% fuel oil, with a viscosity of 180cSt;
    • 30% diesel.

Fuel oil market influences

  • Fuel oil demand is a mixed bag with demand for electricity generation weakening, and demand for ships bunkers remaining firm. Overall fuel oil's discount to crude is increasing.
  • Even with the weaker Kiwi, fuel oil is cheaper this week.
 
 

Landed cost of Heavy Fuel Oil (180cSt) and Light Fuel Oil (40cSt) for the six months to 06 Mar 2009

Landed cost
 
 

Historical data

Download HFO and LFO price data for the 12 months to 6 Mar 2009.

HFO and LFO historical data

This is a demo of the NZFPM fuel-tab.

 
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