Simon Bridge’s letter to petrol companies warning them they have been too slow to cut their prices is no way to regulate an industry or hold the oil companies to account. It’s also a blatant admission New Zealand motorists are being overcharged, says Labour's Energy spokesman, Stuart Nash.
“I’m surprised the Energy Minister thinks a warning letter to these companies will achieve any results at all, or is the right way to ensure transparency and accountability in an industry that doesn’t have the best reputation for openness and honesty. Kiwi motorists deserve a much higher level of transparency on fuel pricing and now is the time for action, not words.
“Earlier this week I asked the finance and expenditure select committee to investigate; the AA want a ministerial inquiry, and yesterday Z Energy committed to support an inquiry.
“Trying to get clarity on fuel pricing and profitability is virtually impossible, but good hard working Kiwis and small businesses deserve the right to know that they are not getting ripped off – and all the Minister’s letter has achieved is to confirm that we are all being overcharged.
“It’s now time Simon Bridges showed actual leadership on this and backed an inquiry by Parliament’s FEC. It’s what Kiwi motorists deserve,” Stuart Nash says.