Petrol companies told to pass on fuel tax decrease

Petrol retailers have been warned. (Image: NZME)

Tue, 11 Jun 2024

The Commerce Commission today directed fuel companies to pass on price decreases ahead of the removal of the Auckland regional fuel tax.The regulator estimates that if fuel companies dropped prices as quickly as they increased them when costs increased, motorists would benefit by around $15 million a year.It says petrol companies are slower to pass on decreases when global oil prices fall or exchange rate changes reduce costs.Commissioner Bryan Chapple said the commission has clear expectations that fuel companies will promptly pass the benefit...

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