New industry rules are aimed at bringing fuel prices down. Photo: ReutersThe Commerce Commission is reminding fuel retailers to learn new industry rules aimed at bringing down prices and to stick to them. From the middle of next month, fuel suppliers have to advertise a spot price for fuel at their storage terminals and supply wholesale customers who want to buy, known as terminal gate pricing. The rules are part of a revised regulatory system to allow greater competition and ultimately lower prices. The changes followed the commission's fuel market study of 2019, which pointed to shortcomings and lack of competition in the fuel market and was taken up by the Government.

Source: Otago Daily Times July 09, 2021 16:30 UTC