Rising rubber costs inflate tyre prices

The cost of running a car is about to rise again with tyre manufacturer Bridgestone New Zealand increasing its prices for car tyres by up to 16 per cent.

Bridgestone says car tyres sold under its own brand and the Firestone brand will increase by up to 9 per cent, while other associate branded tyres will be by as much as 16 per cent next month.

Commercial vehicle tyres, tubes and retreaded tyre prices will increase by up to 5 per cent from July 1.

Bridgestone New Zealand business director Ken Oyama blamed the increases, the second round of rises this year, on the price raw materials remaining at historically high levels.

Further price rises would be necessary if those costs did not reduce.

The price of natural rubber has continued to increase at an unprecedented rate, Mr Oyama said.

In addition the price of petrochemical-based materials like synthetic rubber and carbon black remain high.

(Source: http://www.stuff.co.nz/business/industries/5020432/Rising-rubber-costs-inflate-tyre-prices)