In short
Petrol and diesel prices in New Zealand are rising because of forces most businesses cannot control: the global oil price, a weaker New Zealand dollar, and the taxes and levies that currently make up close to half of what you pay at the pump. In mid-2026, official figures showed petrol prices up more than 27 percent over the year, and the diesel price up more than 70 percent.
You cannot change the oil market. You can stop paying full pump price. A Fuel To Go fuel card takes a fixed discount off every litre, and gives you the tools to budget and control fuel spend while prices stay volatile.
Most of the pressure on petrol and diesel prices comes from outside New Zealand, and outside any one business's control. A few forces do most of the work.
The global oil price. Crude oil is bought and sold on world markets, and through 2026 it has climbed back above US$80 a barrel on the back of conflict in the Middle East. When crude rises, pump prices follow within weeks.
The New Zealand dollar. Fuel is traded in US dollars, so when the Kiwi dollar is weak, every litre costs more to bring in, even if the oil price itself has not moved.
We import all our fuel. Since the Marsden Point refinery stopped refining in 2022, New Zealand buys finished petrol and diesel from overseas. That leaves pump prices exposed to global refining margins and shipping costs, on top of the raw oil price.
Taxes and levies. Close to half of the price of a litre is fixed tax, which we break down next.
At this time, the pump price is not one number, it is a stack. Roughly half is the fuel itself and the importer's costs, and roughly half is tax and levies. On a litre of petrol, according to the Ministry of Business, Innovation and Employment(MBIE), that fixed portion currently includes:
Fuel excise duty of 70.024 cents a litre.
An Emissions Trading Scheme cost of around 20 cents a litre.
Smaller levies, a petroleum monitoring levy and a local authorities fuel tax, a little over one cent between them.
Then GST of 15 percent, charged on top of everything, including the other taxes.
This balance is set to change. Fuel excise duty is being phased out as New Zealand moves all vehicles onto Road User Charges. No date has been set yet for petrol vehicles, but once the switch happens, that 70-cent excise comes off the pump price and is charged as a distance-based road user charge instead. We cover the transition in a separate post.
Diesel is already taxed this way. It does not carry fuel excise duty at the pump. Instead, diesel vehicles pay Road User Charges based on distance and weight, which is why a diesel pump price and a petrol pump price are not a fair comparison on their own.
Diesel has taken the sharper hit. Over the year to mid-2026, official figures put the diesel price up more than 70 percent, against a little over 27 percent for petrol. Global demand for diesel has run ahead of supply, and because diesel is what most trucks, tractors, machinery and delivery vehicles run on, that increase lands squarely on the businesses that can least avoid it. For a transport operator or a farm, a rising diesel price is not a lifestyle cost, it is a direct hit to the margin.
Fuel prices will always move with global markets, but businesses can still take practical steps to reduce what they pay and make fuel spending easier to manage. Fuel To Go combines competitive pricing, broad network access and straight forward account tools to help customers stay in control.
A consistent discount on every litre. A Fuel To Go Off Pump fuel card takes a set amount off the pump price, up to 10 cents a litre at Mobil and 9 cents at BP and Z, helping your business save each time a vehicle fills up.
Access to lower-priced truck stop diesel. With a National Price card, Fuel To Go customers can use truck stop diesel, which is often priced below the main forecourt. Most of these locations are open to cars, vans and utes as well as trucks. National pricing is published on the Fuel To Go website each week.
Simpler fuel account management. Fuel purchases are brought together on one monthly invoice, direct debited on the 20th of the month following, giving you better visibility of spending and less administration.
Bulk fuel options for rural and high-use customers. Fuel To Go works with multiple suppliers nationwide to arrange competitive bulk fuel for farms, rural operators and businesses with on-site storage.
A free, no-obligation price comparison. Send the team a recent fuel card invoice and Fuel To Go will compare it against pricing at the same sites, giving you a clear view of the potential savings before you decide.
Fuel prices can move quickly, and no one can predict every rise or fall. The practical approach is to focus on the parts of fuel spend you can manage: securing a consistent discount, using the right locations for your vehicles, and keeping a clear view of costs through one account. Fuel To Go helps businesses build those savings and efficiencies into every fill, so changing market conditions are easier to navigate.
Why are petrol and diesel prices in NZ so high right now? Fuel prices are influenced by the global oil price, the New Zealand dollar, and the taxes and levies included in the pump price. In 2026, higher crude prices added further pressure at the pump.
How much of the fuel price is tax? At this time, roughly half of a litre of petrol is tax and levies: fuel excise duty of just over 70 cents, an Emissions Trading Scheme cost of around 20 cents, smaller levies, and then 15 percent GST on top, according to MBIE. This will change as fuel excise is phased out under the move to Road User Charges.
How can a fuel card help when prices rise? A Fuel To Go card provides a fixed discount on every litre and brings fuel purchases together in one account. That means consistent savings, clearer reporting and easier budgeting, regardless of how pump prices move.
Why does diesel cost more to run even when the pump price looks lower? Diesel does not carry fuel excise duty at the pump. Instead, diesel vehicles pay Road User Charges separately, based on distance and weight, so the pump price alone understates the real cost.
Make every litre work harder for your business. Talk to Fuel To Go on 0800 383 586, or apply for a fuel card to access competitive discounts, simpler fuel management and support from a New Zealand team.
