5 Dec 2019

Govt to act on fuel market report - Consumer Affairs Minister

From Checkpoint, 5:18 pm on 5 December 2019

The government is promising to push through new laws to help force down the price of petrol by mid next year.

A final report by the Commerce Commission into the retail fuel market has found industry profits are higher than they should be for a competitive market.

The recommendations focus on changes at the wholesale level and include: Adopting an enforceable industry code of conduct, clamping down on restrictive contracts between the main fuel companies and smaller players which resell the fuel, introducing a more transparent pricing regime, and improving information for drivers.

What does it mean for you at the petrol pump?

Consumer Affairs Minister Kris Faafoi joins Lisa Owen to discuss the details.