Haven bought from Z since before the name was change. And no plans so to do in the future.
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Haven bought from Z since before the name was change. And no plans so to do in the future.
Poor old Z!
Cops all the flak as the only listed oil co in NZ!
:ohmy:
Yes , oil is up 50% plus in 1 year. Why on earth would one target a NZ company where many NZ shareholders(including me) gain from and a large portion of profits stay in NZ. Try BP or Mobil if you must!. Even better find ways to reduce your fuel usage and pollution, including ride share, EV and hybrid, planning less trips to do more ,etc.
No surprises Donald trump has been meddling here as well with 2 million barrels of oil a day removed from the mkt due to Iran sanctions. USA is self sufficient in oil now i believe, funny that ehh:).
I only have a small investment in Z but I expect it to get smaller by the day.
https://www.whaleoil.co.nz/2018/10/g...petrol-prices/
Absolute garbage from an extreme biased one sided mercenary sump oil site . There is one truly unbiased place to go for news that does not have any agenda .
National radio NZ is the only place you will get factual, accurate info with qualified experienced Interviewers
who are on a salary and not being paid? to spin bull dust. But depends on your own bias i guess.
ive said many times on this thread the govt doesnt care if petrol goes up its more revenue for them , z dont care there margins are still going up lol the only ones who care are us , but no bodies listening.
good p/r by jacinda , she good at showing she's caring
From National Radio below
Bring back carless days i reckon , if people won't start changing their driving habits, car sharing, buying hybrids, EV.s ,less trips etc. The latest global warming news is very alarming, time for people to pull finger and save money too. No brainer.
Ardern speeds up law change to tackle soaring petrol prices
NZ pays highest pre-tax petrol price in OECD - Ardern
Interesting perspective here too:
https://www.stuff.co.nz/business/107...it-waiting-for
The author Hamish Rutherford notes:
"Leaving aside whether the petrol companies are making too much profit, the best way to get Kiwis to drive less is by ensuring they pay more.
But on Monday, Ardern's "moral stance" was that Kiwis are paying too much to do the very thing she surely believes threatens the planet."
My reaction to the Coalition Governments "were gunna get tough on oil companies" statement was to assume they had read the tag line on Snoopy's posts and put it into practice.
'Management top tip: Share the responsibility. Change your name by deed-poll to "Someone Else"'
Boop boop de do
Marilyn
Every govt talks tough about petrol prices, Judith Collins did it more than once but they really cant do much. Im a bit disappointed in our leader on this one. I agree with Hamish, you have to hurt folks in the back pocket and they will go through their 5 stages of mourning (Denial,Anger,Bargaining, Depression Acceptance and at the other end become responsive and action change for change we must with this planet heating up.
This is a golden opp to educate and incentivise kiwis to start conserving/ changing/ switching. To value fuel and not treat it like water( valuing/conserving water is coming fast too). i hope the Greens and our govt go hard and jump on to this opportunity , this catalyst for change.
Unfortunately, the govt is instead taking the "easy" option of bashing the oil companies - conveniently overlooking the increases recently in the price of oil and the weakened NZD, into the bargain.
this is probably not the correct thread to have a political discourse on,however I will get my 2 cents worth.
How a leader of govt. can stand there and say they don't know why petrol prices have gone up is totally unrealistic.They have so many hangers on and civil servants to advise them.When Jo-public knows the answer and nobody in govt.has a clue,it's time to dump the govt.!
JT - yes there is a real good opportunity to educate and incentivise the public. The flip side is that petrol taxes are very regressive on low income household particularly where the proportion of income spent on fuel taxes, excise duties and ACC fees is relatively higher compared to middle and high income households for a number of reasons - they tend to travel longer distances to work as housing is relatively cheaper away from the city centre and use more fuel and their incomes are lower. Also many of these household have bread winners working long hours that aren't served well by public transport and are forced to drive.
I do agree that higher fuel prices do see changes to patronage of public transport but often the hardest hit by fuel taxes are not those that who really have choices readily available to them. And it would take a lot of price signalling for me to switch from my second hand petrol SUV to a similar sized EV SUV - much more than most households will cope with.
NZ is a small market a long distance from suppliers. Are they factoring that into international comparisons?
If NZ oil and petrol retailing were so profitable why did Shell sell up to Z? In the last 10 years margins have recovered to make it a sector worth investing in...so the government consequently wants to whack the sector on the head again. Go figure! Are they trying to find a scapegoat to divert attention from their hike in fuel taxes?
Is Z going to be another Telecom? When the company changes from foreign ownership to one with a lot of small Kiwi shareholders, the government (and ComCom) decide to come down hard and to make it less profitable. It makes me think that it's little wonder that the NZ share market is so tiny for an OECD nation of our size.
The Government with their unexpected $5.5b surplus could and should do a LOT more to incentivize electric vehicle uptake but I suppose there's working group #149 looking into that due to report back in a couple of years time.
On the subject of Z they are consistently the main offender in the surrounding suburbs where I live in having the most expensive fuel. This consistency is remarkable in its durability and has been going on for years. The thrust of their marketing about doing good under the hood and appealing to the public's sense of nationalist pride that they're a Kiwi company looking after Kiwi's or words to that effect is about as disingenuous as advertising ever gets in my opinion.
The margins have expanded by double. Z energy is profiteering and will get hit by the CC
The same loaf of bread costs more in my local Countdown than in the local Pak 'n Save. The dairy down the road charges more than another dairy in the next block.
If the Z stations consistently charge more than others in the surrounding 'burbs - I wonder how do they stay in business? Perhaps they have the best ancillary services, shop etc? Good locations with expensive lease costs? I doubt it is just because of blind patriotism....but if that helps, NZ companies need all the help they can get because I think we seem to retain precious few in NZ hands.
Disc: Own ZEL bonds
This is the normal persons reaction i think, there is a huge resistance to change whether it be sharing a ride sometimes or planning one trip instead of many,or switching to more efficient vehicles etc. I take it you havn't considered your own carbon footprint here Rep or totally disbelieve global warming(latest update out below which is pretty grim)?. There seems to be a total disconnect , block out of the inconvenient truth that we are polluting our world as we drive and that we must change a lifetime habit.
Im interested in how we can overcome this denial/ refusal about what is happening and the fact changing our lifetime behaviours will make a difference and set examples for others to have that lightbulb moment. A bit like our home is our castle/ domain and that is sacred; with our vehicles too, something that empowers us or just habit and convienience and a bit of personal control?
It would take something more then a lot of price switching for you/us to change. What could that be? something more powerful, more cathartic then having to put say $20 extra in the tank. Its like we cant complete the picture because some of the numbers are missing, but they actually are right there staring us in the face.
Why aren't we taking responsibility?
We accepted carless days some time ago.
Paris agreement goal still achievable, but requires unprecedented change - report
https://www.newshub.co.nz/home/polit...y-crusade.html
The PM is quoted as saying there is profiteering! Sadly, the yield I get from my z shares is the lowest out of all my investments (apart from SUM). So if there is profiteering going on, I'm missing my cut:)
https://en.wikipedia.org/wiki/Profiteering_(business)
I agree - Like GST, fuel tax is another regressive tax hitting the poor disproportionately.
Didn't car less days favour multi-car families. Poorer families with one car suffered disproportionately. Auckland is built around the private car. Poorer families tend to be in rental accommodation in far flung suburbs. They may also have to work in shifts and have to move from job to job and house to house. Trying to organise and re-organise shared transport or public transport would be difficult. There have been generations of inaction in establishing a decent public transport network. Instead we rely on imported fuel and imported cars.
I agree we should phase out our reliance on fossil fuels but there needs to be an affordable alternative.
[QUOTE]We accepted carless days some time ago.
[QUOTE]
I don't know about that word "accepted".
As I recall, the country couldn't afford to pay for the fuel without some form of rationing! A TINA situation.
JT - I’m indicating you can appeal to hearts and minds but price signals change behaviour. The issue is that the economics of changing out of my petrol SUV to an equivalent EV vehicle are astonishingly difficult to justify against all the other considerations I have in the hierarchy. Don’t get me wrong I don’t dispute climate change and no one generally wants to ruin the planet but you ask most folk about what matters and it’s back to Maslow - housing, food, security, rest.
I don’t dispute the matters at hand but for the economic equation for me to be compelling then it would create price signals and economics that would hit the poorest persons of our community the hardest. You can’t expect the poorest to be burdened with the greatest proportional toll or you will see that missing million at the ballot box.
The reasons are simple, one is called market dominance. The Commerce commission should never have allowed the merger of Caltex and Z, Caltex is owned by Z for those that don't know. They dominate certain geographic area's and its simply not worth driving further to get cheaper gas for many customers.
Creative marketing is another reason, doing good in the hood, supporting communities and supporting a Kiwi owned company all sound good.
Thirdly their shops are generally pretty good, but customers are paying for that.
Another reason is their tie up's with incentive programs like Flybuys and supermarket discount vouchers, they're arguably the best operator when it comes to incentives.
They don't sell 98 Octane fuel so are never going to be on my radar as my vehicle needs that, (so I really don't care much other than their patriotic marketing is arguably the most disingenuous of the lot so I find it irksome when I have to watch it on telly) but I can't help noticing that their fuel price signs are consistently the most expensive of the surrounding burbs where I live. Interestingly its not just my bias either, I was discussing this with one of my best mates this morning who lives in a completely different part of Auckland and I asked who is the worst offender, BP, Mobil or Z in the burbs around where he lives.
Plain and simple, in my opinion the Commerce Commission got the Z and Caltex merger badly wrong and this has significantly reduced fuel competition.
On another related subject Cindy wonders why the petrol companies are fleecing us and they most certainly are able aided and abetted by Labours grossly excessive new fuel taxes...her comments are also morally repugnant because its her Government that has just allowed additional petrol taxes for Auckland motorists of a whopping 15 cents per litre...while they're running a 5.5 billion dollar surplus !
I have an AA card which I use at the local Caltex...makes my fuel cheaper than elsewhere. So certainly good marketing and business. The AA/Countdown card is a good one too,imo.
I don’t know of many areas in Auckland where Z/Caltex are so dominant that you cannot easily find during your weekly routine a different fuel company to use. (More rural areas would be a different matter.) I think fuel fuel taxes are needed to pay for Auckland roads to cope with its expanding size. Previous governments and councils could have ensured that public transport and roading/infrastructure kept up with Auckland immigration by raising finance for works by other means. However it was left to become an urgent situation...
My observation in Auckland is that we have a Gull nearby so most of the Servos are matching the pump price - add the 6c (and regular 10c on Smiles Day) discount for Mobil Smiles or the 6c off the New World/Z pricing and it's markedly cheaper due to competitive pressure. Same would probably apply for BP with AA rewards too.
BTW I have used 95RON and 98RON ULP in the past and we have done enough real world testing with similar routes, loads, traffic conditions and average speeds on open road driving vs 91RON ULP to indicate that there is a small but measurable differential in fuel economy but insufficient to cover the differential in per litre pricing. When it comes to urban driving, the differential in economy is non-existent between 91/95/98 RON so my observation is if your car can take 91 RON use it noting that lots of Euros and cars with small displacement forced induction (super/turbocharged) engines probably need to use 95 RON minimum. I also noted when supply was an issue with the Marsden/Wiri pipeline, 95/98 outages were more common than 91.
However, depreciation remains the most significant real world running cost esp for a new car not fuel or even the rising cost of repairs and insurance (I can also see that some hi-spec new cars with sensors incorporated into windscreens for adaptive cruise, AEB, heads up and other driver aids are going to end up with no longer having no excess for windscreen replacement)
True especially for those with average or below average travelling distance the fixed and partially fixed costs and are the big chunk of owning a car. Even if you drive the car for just a second on a public street each year, you have insurance, government charges, annual service (oil and fluid changes at least) and then depreciation (15% on declining value?)
Something that's especially notable with high end Euro cars where the depreciation rate and quantum thereof can be a real eye opener. Some car engines need 98 Octane, a point that seems lost on Z. I think real world depreciation rates are ~ 30% in the first year and ~ 10% per annum every year thereafter. For the life of me I can't understand why some people replace their cars every year.
One thing that's not widely understood with Gull's fuel is that they use up to 10% ethanol in their mix. Ethanol has 33% less energy content than normal fuel so in effect their fuel contains 3.3% less energy. To do a given amount of work your vehicle will accordingly use 3.3% more fuel, (something I have proved us9ing my vehicle running on their force 10 98 Octane fuel) if run on Gull so Gull's fuel has to be cheaper by 3.3% than the other stations (after their incentive scheme's) to make it worthwhile. Even then one thing to consider if you are a person that enjoys the potential of their cars engine to its fullest from time to time is that full throttle acceleration will be blunted by 3.3%.
National raised fuel tax SIX times lol. Your comments are morally inaccurate. Go to the political threads and rave there.
Plain and simple we have a very competitive fuel mkt out there.
Govt surplus is very prudent, who knows whats around the corner to swallow it up
"Govt confident it has the headroom to deal with economic shocks"saving up foe a rainy day I trust this govt to steer us through uncertain uncharted global waters ahead of us.
I'm not sure how this comment is relevant? Surely since the previous government allegedly raised petrol tax SIX times that would mean that this government should be lowering the tax and not increasing it further?
I'm just glad that my financial position is such that fuel prices don't really matter ... but I am sad for those who are struggling to make ends meet as the price of everything is beginning to increase very quickly ...
Six times in 9 years = every 18 months. Labour, (after promising no new taxes in their first term) has raised fuel excise, (which Cindy tries to tell us is not a tax) and lumped Aucklanders with a 11.5 cents per liter tax, a total of 15 cents per liter in less than a year of being in office, and then she has the audacity to cry foul and tell us its the fuel companies that are fleecing us ! Come on JT...surely even you can see this is outrageous.
Anyway...back to Z...this good in the hood is very VERY cunning marketing http://z.co.nz/about-z/how-we-invest...ood/Encourages people to think that by supporting Z they're supporting community groups in their own area to the tune of $5K per annum per gas station. Little do they realize each service station might be skimming many times the multiple of that amount through higher margins but the customer feels good and they get their fly buys points. Cunning !
The Commerce Commission have a history of doing little more than drinking tea and nibbling biscuits where petrol retailing is concerned.
When the earlier Caltex takeover of Fletcher owned Challenge Petroleum was approved by the Commission they failed to make divesting Challenges ocean terminals a condition of approval.
Boop boop de do
Marilyn
6 times man oh man fact.
Sorry but Aucklanders can pay for there own infrastructure probs that National neglected, blame them.
Question ,are the discounts factored into gas stations petrol prices, they offer good savings for Zcard and Mobil smiles card for two?.
I looked up the facts. In December 2008 the total fuel excise levy was 52.57 cents per liter (cpl) + GST. At the conclusion of National's 9 year term it was 66.48 cpl a total increase over 9 years of 13.91 cpl. Over that nine year timeframe according to the Reserve bank inflation calculator if fuel had matched the price of inflation the inflation adjusted real price benchmark for excise should have been 57.51 cps at the conclusion of National's 9 year term so natural inflation represented 5 cpl of that increase and the increase in real terms was just on 9 cpl over nine years.
To to make this comparison really simple National's real rate of fuel excise increase amounted to just 1 cpl extra per year in real inflation adjusted terms.
About 80% of fuel excise is supposed to go direct to the National land transport management fund to fund roads across all of N.Z. including Auckland, who's 1.5m motorists pay a substantial part of the annual amount that fund gets.
In 9 months Labour have imposed 50% more petrol levies and costs (13.5 cpl + GST) (despite the promise of no new taxes) on Aucklanders than National have done in inflation adjusted terms in the previous 9 years yet Cindy has the audacity to tell us that the fuel companies are fleecing us !
Further, their annual proposed fuel excise levy increases at 3.5 cpl for the next two years are at 3 times the annual rate National was putting them up.
Fuel excise and the regional fuel tax, inclusive of GST thereon now accounts for a whopping 91.98 cents per liter for Aucklanders.
Even if you leave the debate about regional fuel levies out of this the fact remains that Labour are increasing national fuel excise levies, (despite promising no new taxes in their first term) at three times the annual rate National did and they think this is okay because Cindy told us that fuel excise increases is not a tax !
How gullible does she think the average Kiwi is ?
Its not just Z rorting their customers I tell ya ! There's a LOT of heat over this petrol price thing and if Labour ignore it they do so at their peril.
It is nationals latest attack issue(spread the word around ,attack), spin to divert from bridges faltering leadership issue, id agree with that. Attention! the latest attack /diversion tactic , blame labour for the petrol increases, alert attack mutt beagle.