Podcasts Other The Mike Hosking Breakfast Bryan Chapple: Commerce Commission Commissioner on major fuel companies being slow to bring prices down

Bryan Chapple: Commerce Commission Commissioner on major fuel companies being slow to bring prices down

Published: June 11, 2024, 10:26 p.m.

Competition is starting to improve in the fuel market.\xa0

The Commerce Commission has called out retailers for being quick to put prices up, but slow to bring them back down.\xa0

They believe it\u2019s costing motorists $15 million a year.\xa0

Bryan Chapple, Commerce Commission Commissioner, told Mike Hosking that there's no evidence its collusion, but rather companies just aren\u2019t incentivised to lower their prices.\xa0

He said that companies such as Gull and Waitomo coming into an area and building stations forced majors to lower their prices to match.\xa0

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