By RNZ
Petrol prices have hit their highest level since the start of the Iran-US war.
Fuel monitoring site Gaspy today shows the average price of 91 unleaded at $3.50.5.
Gaspy director Mike Newton says that price is slightly higher than the $3.50.2 hit at the peak of the war back in April.
The latest increase follows a sustained period where the price of Brent crude has sat above US$100 ($178.83) a barrel.
It is currently at US$101.5.
The New Zealand dollar has also fallen sharply over the past couple of months, down around 7% since August to be currently at around 55.8 US cents. That’s near one-year lows.
A lower New Zealand dollar makes imports of fuel more expensive.