The government is rushing through legislation to look into the price of fuel. The Prime Minister says she's concerned at the price consumers are paying at the pump.
The government is rushing through changes to allow the Commerce Commission to investigate fuel prices.
Prime Minister Jacinda Ardern says, "We're passing legislation that will allow us to launch a full market study and require their cooperation."
The Ministry of Business, Innovation and Employment (MBIE) says as an approximate guide fuel excise tax makes up about 28% of a litre of petrol, GST is 13% and refined fuel is about 34%.
Importer margins are around 21% and the Emissions Trading Scheme and shipping are 2%.
"We have the highest pre-tax fuel price in the OECD...That's incredible. The importer margin has been a part of it, that's unacceptable. New Zealand consumers, in my book, are being fleeced" says Ardern.
The legislation will be passed in the first two weeks of parliament sitting in late October.