Tuesday , May 18 2021

Fuel drives up transportation costs



Prices paid by businesses for gasoline and diesel fuel rise
6.9 percent and 7.0 percent, respectively, in September
2018 quarter, Stats NZ said today.

This is the latest
fourth quarter in a row with rising fuel costs. Other
petroleum products such as aviation fuels and lubricants
Oil also rose this quarter (up 3.7 percent).

Gasoline and
Solar costs for businesses rose 22.5 percent and 37.8
percent, respectively, in the year to September 2018. Others
petroleum products rose 14.3 percent this year. Fuel is a
the main contributor to the costs paid by the business
produce their goods and services.

Both input and output
prices (up 1.4 percent and 1.5 percent, respectively) for
business shows a relatively strong increase in
September quarter 2018. While the gap is wider or narrower
between input and output prices affect business
profitability, volume is also a factor.

Transportation,
the postal industry, and warehousing increased by 3.1 percent
in input costs in the last quarter, influenced by fuel
increase. This increase flows to customers –
the price of output charged by this business for their services
up 2.9 percent this quarter. For postal business,
maintain profitability in the face of declining letters
volume contributes to an increase in industrial output
price.

Consumer price index: September 2018
quarter
reported an increase in transportation and gasoline by 2.4
percent and 5.5 percent, respectively.

Electronic card transactions: September
2018
showing a seasonally adjusted increase of $ 65 million
in the retail fuel industry during September 2018
quarter.

© Scoop Media


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