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Fuel market "not as competitive" as ComCom would like

Author
Newstalk ZB,
Publish Date
Wed, 12 Jun 2024, 10:25am
(Getty Images).
(Getty Images).

Fuel market "not as competitive" as ComCom would like

Author
Newstalk ZB,
Publish Date
Wed, 12 Jun 2024, 10:25am

Competition is starting to improve in the fuel market. 

The Commerce Commission has called out retailers for being quick to put prices up, but slow to bring them back down. 

They believe it’s costing motorists $15 million a year. 

Bryan Chapple, Commerce Commission Commissioner, told Mike Hosking that there's no evidence its collusion, but rather companies just aren’t incentivised to lower their prices. 

He said that companies such as Gull and Waitomo coming into an area and building stations forced majors to lower their prices to match. 

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