27 Aug 2008

Report on ways to cope with rising oil prices

2:01 pm on 27 August 2008

Road charges, tax benefits for fuel efficient vehicles and increased parking fees are some of the recommendations made in a lengthy new report on ways to cope with rising oil prices.

The independent report was commissioned by the New Zealand Transport Agency to investigate the impact of rising oil prices on future transport needs.

It predicts petrol could cost $2.80 a litre by 2012 and diesel $2.50 per litre.

The report's recommendations include charging motorists a direct fee for using roads, investigating tax breaks for fuel efficient vehicles, and charging motorists more for parking.

The report predicts savings of about $5 billion per year if the recommendations are implemented.