Latest / Early Edition with Ryan Bridge / Simon Parham: Waitomo Group CEO on the government extending fuel relief

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Simon Parham: Waitomo Group CEO on the government extending fuel relief · Early Edition with Ryan Bridge

• 0:00
  Speaker 1: Government keeping that fifty buck fuel relief for now.
• 0:03
  Speaker 2: While New Zealand did experience four weeks of national average
• 0:08
  Speaker 2: prices falling below three dollars, we are advised that they
• 0:11
  Speaker 2: rose above that point again last.
• 0:13
  Speaker 3: Week, so it stays four now. The max is one year.
• 0:17
  Speaker 3: The increased milor's rates for support workers also sticks around.
• 0:20
  Speaker 3: Simon params with me this morning. Why Toma Group CEO Simon,
• 0:23
  Speaker 3: Good morning, morning Ryn. Do you think the subthing you
• 0:27
  Speaker 3: needed to stay?
• 0:29
  Speaker 4: Looking at the demand over the last month, especially with
• 0:31
  Speaker 4: prices increasing like fifty percent, it has softened, so that
• 0:35
  Speaker 4: tells me that duel prices are still a major pin
• 0:39
  Speaker 4: point for household so I think it's the right thing
• 0:41
  Speaker 4: to keep the subsidy off.
• 0:43
  Speaker 3: We do because Waimo has deals. Do you notice in
• 0:47
  Speaker 3: you know, when you have your six cents off a
• 0:49
  Speaker 3: liter or whatever it is, do you notice that more
• 0:51
  Speaker 3: people come to your pumps when you are offering those
• 0:53
  Speaker 3: when the price is high?
• 0:55
  Speaker 2: Oh?
• 0:55
  Speaker 4: Definitely. We were at the forefront of a discount day
• 0:58
  Speaker 4: on Thursday than our volume essentially doubles on that day.
• 1:02
  Speaker 4: So yeah, people are a lot more savvy these days
• 1:06
  Speaker 4: are looking at fuel prices and they will come and
• 1:08
  Speaker 4: get the great deal.
• 1:09
  Speaker 1: What are your prices looking like right now?
• 1:12
  Speaker 4: I would say our prices on average are about two
• 1:14
  Speaker 4: dollars ninety five for ninety one and about that two
• 1:17
  Speaker 4: dollars fifty for diesel, So we haven't hit that three
• 1:20
  Speaker 4: dollars market all our sites, but you know, there's definitely
• 1:24
  Speaker 4: pressure on.
• 1:25
  Speaker 1: The upside and it'll probably happen.
• 1:28
  Speaker 4: Yeah, well, we hope not. Like prices have sort of
• 1:31
  Speaker 4: flattened in the last couple of days as the US
• 1:33
  Speaker 4: suspended strikes, and as you said earlier, this mean some
• 1:36
  Speaker 4: OFMAMI discussions. But there's still so much to your political
• 1:40
  Speaker 4: risk and tention priced in there that it's it is
• 1:42
  Speaker 4: a bit of a rocky road that we're traveling at
• 1:44
  Speaker 4: the moment.
• 1:45
  Speaker 3: Three dollars is such a psychological number, is it. Do
• 1:47
  Speaker 3: you notice that people, you know, when the price goes
• 1:50
  Speaker 3: over three dollars, you see a change in behavior that
• 1:53
  Speaker 3: probably outweighs the difference between two dollars ninety eight and
• 1:56
  Speaker 3: three dollars oh one, for example.
• 1:58
  Speaker 4: Yes, definitely, you know, you see people just topping up
• 2:01
  Speaker 4: instead of filling up. So those average transactions while all
• 2:05
  Speaker 4: that you've still got the transactions coming through they're just
• 2:08
  Speaker 4: filling up a little bit less, so they you know,
• 2:11
  Speaker 4: every transaction is a slightly less amount of fuel that's purchased,
• 2:15
  Speaker 4: so you see them just managing their household budgets.
• 2:17
  Speaker 1: I think Simon good to have you on. Simon par
• 2:19
  Speaker 1: White te More Group CEO.
• 2:22
  Speaker 4: For more from Early Edition with Ryan Bridge. Listen live
• 2:25
  Speaker 4: to news talks.
• 2:26
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• 2:29
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