PRS: Commerce Commission Given Power to Set 'Fairer' Fuel Prices
November 9, 2022
The government is giving the Commerce Commission the power to set fairer petrol and diesel prices.
It is part of a suite of measures aimed at making the country’s fuel system more secure and affordable.
Wholesale fuel suppliers selling from terminals are currently required to share a daily spot price.
But from mid-next year the Commerce Commission will be able to regulate that cost if the prices on offer are too high.
The country was moving into more resilience for its fuel stock supplies in a post-Marsden Point situation, Energy and Resources Minister Megan Woods said.
Problem, Reaction, Solution.