Mike's Minute: What is the point of Commerce Commission reports?

Best of Business · Mar 28, 2023 · 2m

There's a small sense of satisfaction for me as the second quarterly monitoring report from the Commerce Commission came out on the petrol industry.

Do you remember the Commerce Commission and the petrol industry? We were being fleeced by them, so a market study was conducted and, for better or worse, nothing really came out of it.

There was a little bit of loosening when it came to access at wholesale level and some signs to be put out advertising their high octane prices. But the famous claim from then-minister Kris Faafoi that we would save over 30 cents a litre was shown to be bollocks…