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MP seeks Inquiry on oil prices

Gordon Copeland

Friday, 9th May 2008

MP seeks Inquiry on oil prices

Independent MP Gordon Copeland, the Kiwi Party spokesperson on Commerce, today revealed that he has written to Parliament's Commerce Select Committee seeking an Inquiry into the pricing of petrol and diesel in New Zealand.

"I support the call by the Automobile Association (AA) and its members for an Inquiry into the pricing of these products," said Mr Copeland.

"New Zealanders appreciate that the price of automotive fuels will rise and fall in response to the international price of oil. However they become suspicious when they note that the pump prices for oil and diesel increase immediately whenever the world price increases, but that a different set of rules appear to apply when the international price decreases. When the price of oil goes down, there seems to be a lag in time before the price at the pump follows suite. Why the inconsistency?"

"I believe New Zealand motorists deserve transparency around this issue and I don't think we can achieve that unless, through an Inquiry, all the relevant facts are put on the table."

ENDS

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