Andy Baird: Z Energy Retail General Manager says consumer demand for petrol is declining as prices spike

from Best of Business · host Newstalk ZB

Z Energy says demand for petrol is falling substantially, due to fuel price spikes and lifestyle changes among Kiwis. Brent crude oil prices are at a 10-month high, with 91 fuel reaching $3.20 a litre in some parts of the country. Retail General Manager, Andy Baird says demand for jet fuel remains strong, while the consumer market is under pressure. "And that's, we think, just a factor of the pre-Covid piece. Consumers can work from home and they're doing that, so that's 2 or 3 trips a week they're now not taking. And of course, the weather hasn't been great either, so those weekend trips are down as well." LISTEN ABOVESee omnystudio.com/listener for privacy information.

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This episode was published on September 25, 2023.

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