NZ motorists pay a high price with petrol the most expensive in the OECD – report

Rising petrol margins are costing Kiwi motorists hundreds of millions of dollars a year, an official report claims, prompting a public threat of regulation from the Government.

On Wednesday the Government released the latest reports on retail petrol margins from the Ministry of Business, Innovation and Employment, which found that, if tax is excluded, prices are the highest in the OECD.

“The potential wealth transfer from consumers to fuel suppliers since 2008 is likely measured in the hundreds of millions of dollars per annum,” the report said.

A further probe into whether the retail market is competitive seems inevitable; the previous studies were frustrated by a refusal by some companies (Mobile and Gull) to release information requested.

from Ellie NZ Rss http://www.stuff.co.nz/business/industries/99574344/NZ-motorists-pay-a-high-price-with-petrol-the-most-expensive-in-the-OECD-report

from
https://ellieplume83.wordpress.com/2017/12/06/nz-motorists-pay-a-high-price-with-petrol-the-most-expensive-in-the-oecd-report/