3 May 2008 Press Release
Petrol price monitoring may be reviewed, Dalziel says
Commerce Minister Lianne Dalziel Lianne Dalziel says she is investigating whether the monitoring of petrol prices could
be strengthened further, to ensure competition and consumer issues are addressed.
Lianne Dalziel has just returned from an official visit to Australia where she discussed petrol prices with the chair of
the Australian Competition & Consumer Commission (ACCC) Graeme Samuel.
"Mr Samuel gave me a copy of the report of the ACCC's inquiry into the price of unleaded petrol, called 'Petrol Prices & Australian Consumers'.
"I'm asking New Zealand officials to read the report very closely for lessons that may be applicable in the New Zealand
setting," Lianne Dalziel said.
"New Zealand has the fifth lowest petrol price in the OECD and the Ministry of Economic Development (MED) closely
monitors all aspects of petrol prices every week, and publishes the findings on its website.
(http://www.med.govt.nz/templates/StandardSummary____353.aspx)
"However preliminary discussions I have had today with the Automobile Association (AA) suggest there may be scope for
examining whether this monitoring could be improved still further.
"While the Australian report shows the reality is that petrol prices are set according to the international market
place, regulators can always work to ensure issues at the domestic level, such as the competitive dynamics of the market
and consumer knowledge, are as strong as they could be.
Lianne Dalziel said she planned to meet with the AA next week to discuss the Australian report and the MED monitoring
arrangements.
ends