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Nicola Willis: Finance Minister on the impact of the conflict in the Middle East on fuel prices
Description
The Government is actively monitoring the impact international fuel prices are having on the price we're being asked to pay at the pump.
Crude oil prices have topped US$100 a barrel for the first time in three years, and our petrol prices surged another 14 cents in the weekend.
Finance Minister Nicola Willis told Mike Hosking that they’re conscious that the price at the pump impacts not only most New Zealanders, but also freight costs and other costs across the economy.
But she says they need to understand what the bigger picture looks like before they overreact, as any money they throw at the problem is money they will need to borrow.
“We need to be prudent about New Zealand’s fiscal position.”
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