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17 Sep 2019 2:48
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  •   Home > News > Business

    Many Kiwi fuel retailers have high profits compared to other countries

    Many Kiwi fuel retailers have high profits compared to other countries


    The Commerce Commission's draft report into the industry's found it's not as competitive as it should be.

    Z Energy, BP and Mobil control 90 per cent of the fuel market and have joint infrastructure and supply networks.

    The Commission says that creates significant challenges to other rivals to enter and compete.

    Chair Anna Rawlings says the high profits indicate competition isn't working well.

    She says returns are significantly above international peers and what the estimate a reasonable return would be.

    © 2019 Newstalk ZB, NZCity


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