Diesel Price Surge Pushes Excavation Costs Higher Across New Zealand

New Zealand’s soaring diesel prices are starting to hit parts of the building industry such as excavation that rely on heavy machinery, according to a construction cost gauge.

Excavation costs surged 7.8% in March from February, Quotable Value NZ said Monday in Wellington. Prices for piling gained 1.4% while demolition costs rose 1.3%, the property consultancy said citing its CostBuilder price gauge.