Z Energy is rejecting claims that it's pocketing more profits from rising fuel prices

New Zealanders are feeling the pain at the pump, with fuel prices the highest ever, and continuing to rise this summer.

The Ministry of Business, Innovation and Employment has released data -- suggesting much of the price rise is due to fuel companies pocketing more profits.

Z Energy Chief Executive Mike Bennetts says its margins rose just one-cent in the last three months, and the data is wrong.

He says at times during that period, Z Energy was achieving ten cents a litre less than what MBIE claims.