Many Kiwi fuel retailers have high profits compared to other countries
Many Kiwi fuel retailers have high profits compared to other countries
20 August 2019
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.
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