New Zealand Labour Party

Time for inquiry into petrol margins

It’s time for an inquiry into petrol companies as margins are once again at the high levels that prompted concerns late last year, says Labour's Energy Spokesperson Stuart Nash.

"Over the December January holiday period, petrol importer margins jumped to around 40c per litre, prompting the Minister of Energy to write to petrol importers expressing his concerns. The margin is now 38.5c per litre, despite the fall in the retail price.

“Margins are also at the level where the Chairman of the Finance and Expenditure Select Committee has said that he would consider an inquiry into the pricing and competition along the petrol supply chain.

“The time for that inquiry has come,” says Stuart Nash.