Petrol prices make no sense

I was just noting myself that the petrol prices were increasing dramatically towards the end of the holidays and being the sort of sceptic I am, suspected some kind of price gouging as everyone travelled back home and had to run around getting ready and going back to school or work.

Turns out I’m not the only one that’s been observing the strange numbers. ?

The margins on petrol prices have increased and Energy Minister Judith Collins wants to know what is going on.

Margins are the difference between the price companies pay for petrol and what they charge for it at the pump.

The Ministry of Business, Innovation and Employment has data showing margins have increased.

“I will get to the bottom of this and next week I expect to have something to announce,” Ms Collins told Fairfax.

Earlier on Tuesday Labour’s energy spokesman, Stuart Nash, called for an inquiry by a parliamentary select committee.

“I get the impression New Zealanders are being ripped off,” he said.

Mr Nash says margins were about 13 cents a litre before 2010 and were now running at about 35 cents a litre.

Good to see Nashy and Crusher on the same side of an argument for a change. ?Wouldn’t want to be in the energy company’s shoes.


– Fairfax via NZN via Yahoo! News (and now on Whaleoil! 😉