Petrol And Disel Price Per Litre Review 5 Dec
“Nationwide petrol prices have fallen below $2/litre for the first time in two-and-a-half years, with BP leading the 10th straight cut in a row, with petrol and diesel down another 3 cents (diesel initially fell 2c). That’s a cumulative reduction of 22c on petrol and 20c for diesel in two months”
“New Zealand commodity prices declined for the ninth consecutive month in November, to the lowest level since February last year, as milk powder prices fell to five-year lows.
The ANZ Commodity Price Index dropped 1.6 per cent to 286.3 last month, 12.4 per cent lower than its reading the same month a year ago and the lowest for a November month since 2012. Skim milk powder fell 7 per cent, “Dairy has been a major force driving down the ANZ commodity price index,” said ANZ Bank economist Steve Edwards. “The dairy component (has been) falling for nine successive months to be 37 per cent below the same level a year earlier, and 45 per cent below April 2013 peaks.”while whole milk powder dropped 6 per cent, with both series at their lowest since 2009.
Today’s data comes ahead of the GlobalDairyTrade auction overnight. Since the start of the year dairy prices have halved at the GDT auctions as over-supply and weaker demand in China, the biggest destination for New Zealand’s largest export, weighs on prices.”
Min 2.26 Brent Crude
BATTEN DOWN THE HATCHES!!!