Fletcher Tabuteau MP

Spokesperson for Commerce and Trade
17 MARCH 2015

Big Oil Rorting Kiwis at the Pump Despite Oil at Six Year Lows

New Zealand First is calling on the government to tackle the fuel companies who have kept fuel prices high despite oil falling to six year lows.

“Oil prices are tumbling except Kiwis are not seeing that reflected at the pump,” says Fletcher Tabuteau, New Zealand First’s Commerce and Trade spokesperson.

“The Wall Street Journal has just reported that “the benchmark U.S. oil price tumbled to its lowest point in six years during intraday trading on Monday on signs of a deepening supply glut.” So why are prices still high here?

“This government rejected a bid last month for an inquiry and the Minister, Simon Bridges, even claimed he had “options” to deal with the fuel companies. Well Minister, “show some guts” and use your “options” for the benefit of hard working Kiwis.

“The fuel companies act like lightning when international oil prices rise, but are like sloths when those prices fall and boy, have they fallen.

“Then again this government just added a four cent levy on the price of a tank of petrol and the GST on fuel taxes, yes a tax on a tax, adds ten cents to every litre of fuel. This government has its nose in the petrol trough too,” Mr Tabuteau concluded.

ENDS

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