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  1. Slightly aside but on the same subject, if the Commerce Commission found lack of competition a reason for high fuel price margins………then why the hell did they let Z energy buy out Caltex??

    Z are currently selling Caltex sites in Auckland to property developers, cutting the publics buying options even more. And their Caltex infrastructure spending on remaining sites appears non existent, no pay on the pumps is an example.

    It looks precisely like Z bought Caltex to eliminate competition, closing the brand down and cashing in the land they operated on as recompense for the purchase.

    So the ComCom really are part of the problem themselves!

    1. “Slightly aside but on the same subject, if the Commerce Commission found lack of competition a reason for high fuel price margins………then why the hell did they let Z energy buy out Caltex??”

      Damned good question, Xray and not at all “Slightly aside “.

      Like the supermarket duopoly, allowing dominating companies to buy each other up cannot be called in the best public interest at all. Why the Commerce Commission thought it would be a good idea escapes me.

      I have no doubt it has led, in part, to higher fuel prices – and maybe even retarded the development of an alternative, sustainable, low-carbon fuel sector.

  2. There is no explanation if the importers margin is gross or net. I would say is is the gross margin. From out of that margin will come the importers operating expenditures for the refinery, pipeline toAuckland , bulk storage units in ports, distribution costs, taxes, etc.

    Be interesting what the importers net margin figures are.

    Ardern made a big song and dance about the 45% margin enjoyed by the fuel importers, and as usual the opposition was asleep at the wheel to question her on the margin call.

  3. Last week I saw a letter that Simon Bridges wrote whilst Transport Minister in 2014 complaining about the price of fuel.

    Fast forward 5 years later and he seems to have conveniently forgotten about that letter. Does he suffer from selective amnesia?

    I am so over National and of course Simon Bridges. In their present state and with their present leader they are showing how unworthy they are to be voted for in the 2020 election.

  4. A very well detailed piece, Frank.

    The problem is, you’ve largely overlooked the problem. Which is, nonprogressive tax and the fact Labour supports them.

    Labour haven’t rushed to lower GST and have advanced fuel taxes.

    That’s the problem we on the left should be pressing Labour on. Not getting caught up on who is the least worse (between National & Labour) at introducing/advaniing them.

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