John Tookey: AUT Professor of Construction Management discusses construction industry crisis

A construction expert says customers could soon face price hikes of 25%.

Stats NZ data shows petrol prices rose almost 19% last month, while diesel prices were up almost 43%.

AUT Professor John Tookey says the industry heavily relies on oil for producing and transporting materials.

He says the destruction of oil wells and processing facilities in the Middle East could take years or decades to rebuild.

Tookey says, if it continues, there will be major problems which could become the new normal.

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