Finance Minister hopes fuel price rises are slowing down

Petrol prices have hit their highest level since the start of the Iran-US war.

Fuel monitoring site Gaspy today shows the average price of 91 unleaded is three dollars 50 point six.

The latest increase follows a sustained period over where the price of global oil price benchmark Brent Crude has sat above US 100 dollars a barrel.

Finance Minister Nicola Willis told Heather du Plessis-Allan she hasn't had advice on how high the price may go.

She says she's been told the release of additional oil from the International Energy Agency will stop prices spiralling from here.

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