Megan Woods: Government trying to find out why Kiwis are paying so much for petrol

Episode of: The Mike Hosking Breakfast

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Oct 8, 20185m
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Megan Woods: Government trying to find out why Kiwis are paying so much for petrol
Oct 8 '185m
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The Energy Minister says we're paying one of the highest pre-tax fuel prices in the OECD - and companies need to front up. Megan Woods is awaiting new legislation for the Commerce Commission to take a deep dive into fuel pricing. She says we know already there are large price discrepancies around the country, especially where there's less competition - which says a lot in itself. Woods told Mike Yardley the Government is not looking at regulating the price of petrol, but at the whole market. "What we can see is that we have a broken market, that it's not acting in the interest of consumers, and it's playing out differently regionally." She said there is a range of solutions but they need to do a market study before acting on them. "All road really have lead back to needing this market study report." "But there are some things we can look at, for instance, we know that people in the Wellington Region and the South Island pay more than those in the upper North Island." She said they are looking at what's driving it. LISTEN ABOVE AS MEGAN WOODS SPEAKS WITH MIKE YARDLEY

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