Jun 16, 2008

Populist Politics: Government Calls Enquiry Into Fuel Prices

Is Lianne Canute trying to hold back the tide?? Who cares it might win some votes.

Oil companies will have their pricing structures scrutinised by a Government-ordered inquiry.
The move comes after fuel prices reached record highs, sending the price of petrol to more than $2.10 a litre.
Commerce Minister Lianne Dalziel said last night that she was looking forward to the oil industry explaining to the public, through the inquiry, "why it takes so long for price decreases in crude oil to come through to the New Zealand petrol pump and why it is so quick to get the price increases through".
She said independent consultants would also examine similarities and differences between fuel markets in New Zealand and Australia, which is about to extend the geographic reach of a scheme requiring oil companies to give motorists advance notice of price rises.

The NZ Herald reports in more detail.