<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><a href="https://www.9news.com.au/australia" rel="" target="" title="Australians"><span>Australians</span></a><span> feeling the pain at the bowser might spare a thought for their cousins across the ditch.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>In </span><a href="https://www.9news.com.au/new-zealand" rel="" target="" title="New Zealand"><span>New Zealand</span></a><span>, the price of regular unleaded petrol has surged to an average of $NZ3.32 ($2.76) a litre.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Some service stations are currently </span><a href="https://www.9news.com.au/petrol-prices" rel="" target="" title="selling petrol"><span>selling petrol</span></a><span> for as high as $NZ3.49 ($2.90) a litre, with economists forecasting prices could soon hit $NZ4 a litre.</span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/aussies-urged-to-work-from-home-as-fuel-prices-rise/459e7107-af66-4d82-849c-25eb2604abce" rel="" target="" title="Energy Minister backs WFH suggestion amid fuel crisis"><strong><span>Energy Minister backs WFH suggestion amid fuel crisis</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The country is also facing major shortages of diesel, with Finance Minister Nicola Willis warning thousands of jobs are at risk if supplies dry up.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>In Australia, while the price of diesel is approaching $3 a litre in some regions, the average price of unleaded is still sitting at $2.20 a litre nationally, according to the </span><a href="https://www.aip.com.au/sites/default/files/download-files/2026-03/Weekly%20Petrol%20Prices%20Report%20-%2015%20March%202026.pdf" rel="" target="_blank" title="latest report from the Australian Institute of Petroleum"><span>latest report from the Australian Institute of Petroleum</span></a><span>.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Petrol prices in New Zealand are typically higher than in Australia due to higher taxes, including a higher fuel excise, as well as levies for an emissions trading scheme and 15 per cent GST.</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/world/petrol-prices-new-zealand-hit-4-dollars-a-litre-australia-fuel-shortage/16027cc8-5e3b-4e9e-b79c-d80224c9d4ae" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>It comes as </span><a href="https://www.9news.com.au/world/us-israel-iran-war-live-updates-march-23-donald-trump-latest-world-news-headlines/ab76975a-165f-4487-9116-2b60ba5a4a4e" rel="" target="" title="oil prices jumped overnight"><span>oil prices jumped overnight</span></a><span> after Iran threatened to shut down the Strait of Hormuz indefinitely in response to Trump's ultimatum demanding the restoration of oil traffic through the critical waterway.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>LIVE UPDATES:</span></strong><span> </span><a href="https://www.9news.com.au/world/us-israel-iran-war-live-updates-march-23-donald-trump-latest-world-news-headlines/ab76975a-165f-4487-9116-2b60ba5a4a4e" target="_blank"><strong><span>Iran's latest threat after Trump issues ultimatum over Strait of Hormuz</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Brent crude, the global benchmark, climbed 1.69 per cent to about US$114.09 ($162) a barrel while US crude rose 2 per cent to US$100.29.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>If they persist, those prices will see the amount consumers pay at the bowser climb still higher, once they flow through to retail supply.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>In yet more grim news, global investment bank Goldman Sachs said last week that elevated prices could persist through next year.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><em><strong><span>NEVER MISS A STORY:</span></strong></em><span> </span><em><span>Get your breaking news and exclusive stories first by following us across all platforms.</span></em></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><ul><li><em><strong><span>Download the 9NEWS App here 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