Fuel company CEO calls for audit of fuel tax expenditure

The CEO of a fuel company is calling for an audit of what exactly our current fuel tax is being spent on. 

The plea for more visibility comes after the Government revealed on Thursday that a sharp fuel tax hike would be part of its three-year land transport plan which inevitably would result in more pain at the pump. 

From Auckland to Wellington and in Christchurch petrol prices vary, but you couldn't call any of them cheap. 

"It's gone up, but it is what it is, you can't really change it," one man said.

Except the Government is planning to change it and prices will inevitably rise even further. 

There's a plan to increase fuel tax by 12 cents a litre as part of its $20 billion transport plan.

"There's a large amount of money that goes to the government already with the express purpose of building roads," Waitomo Group CEO Simon Parham said.

"I'm calling for visibility and calling for an audit so we know where our money is being spent and that it's not being wasted."

According to Gaspy, New Zealand's average fuel prices today start at $2.17 for diesel, unleaded 91 tops that with $2.85, it's just over $3 for unleaded 95 and a hefty $3.20 for unleaded 98.

There are a few factors driving the prices up.

"We've got the August forecast from Japan, they were down by 50 percent, we've had quite a few refinery outages across the region as well," Parham said.

"We've seen the price of crude oil go up about $12, that's reflected in about 12 cents at the pump," AA principal policy advisor Terry Collins said.

Plus the New Zealand dollar is down, with the Emissions Trading Scheme and ACC payments on top of that.

Gaspy told Newshub that those factors could add up to record prices, possibly within the next month - nching past our historic record high of $3.12 for unleaded 91, which we hit in June last year. 

In the past month alone, 91 went up 23 cents, diesel 30 cents.

Additionally, there are things everyone can do to help.

"Your right foot controls the cost factor, the faster you accelerate, the quicker you brake and the more speed you do then you're gonna pay for that at the fuel pump," Collins said.

Slowing down could save you in more ways than one.