Like most businesses in New Zealand, fuel retailers set the price they sell their products to consumers. The Commission does not regulate fuel prices in New Zealand and cannot intervene to make prices at the pump cheaper for consumers.
The Commission can investigate businesses for breaches of anti-competitive behaviour under the Commerce Act. Read more about what is illegal under the Act.
Parliament is currently considering a Bill which will amend the Commerce Act to enable the Commission to undertake market studies. Once passed, Minister Woods has signalled that she intends to ask the Minister of Commerce and Consumer Affairs Kris Faafoi to request the Commission to conduct a market study into fuel markets to better understand how the market is functioning.
MBIE carries out weekly monitoring of “importer margins” for regular petrol and automotive diesel. The importer margin is the money retailers have to cover local transport and the costs of selling fuel in New Zealand, as well as profit. See more on the MBIE website.
The AA also monitors prices and margins and has information on their website including a breakdown of the components of the price of fuel. See more on the AA website.