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11 Apr 2020 6:53
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  •   Home > News > Business

    A swathe of measures this year to break the big fuel companies' stranglehold on the market

    A swathe of measures this year to break the big fuel companies' stranglehold on the market


    The Government's responded to the Commerce Commission's industry probe.

    It will force fuel suppliers to publicly post how much they charge wholesale customers at storage terminals - to lower barriers to entry and expansion for distributors.

    Legislation will also re-balance wholesale supply contracts - which currently favour the big firms, and make retail sites display premium fuel prices.

    Change is on the cards for the major firms' joint infrastructure network - which gives them an advantage over other importers.

    © 2020 Newstalk ZB, NZCity


     Other Business News
     10 Apr: OPEC and Russia have agreed a deal to cut global oil production to 10 million barrels a day until July 1, and then eight million a day until the end of year
     10 Apr: Rugby Australia remains confident an agreement over player pay cuts will be hammered out within seven days
     09 Apr: Wellington city councillors have thrown out the idea of a rates freeze -- but payment deferrals will still be allowed
     09 Apr: Liquidators have been appointed for a Christchurch-based investment company - that's being investigated by the Serious Fraud Office
     09 Apr: Spending on eating out and accommodation plunged more than a third in March, after the outbreak of Covid 19
     09 Apr: A Christchurch-based cryptocurrency exchange that suffered a devastating breach, will have to try to pay off its customers
     09 Apr: Not too many hiccups - just yet - to our trade exports due to covid-19
     Top Stories

    RUGBY RUGBY
    Rugby Australia remains confident an agreement over player pay cuts will be hammered out within seven days More...


    BUSINESS BUSINESS
    OPEC and Russia have agreed a deal to cut global oil production to 10 million barrels a day until July 1, and then eight million a day until the end of year More...



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