Officials are continuing to closely monitor petrol stations to ensure any fall in global oil prices is passed on to Kiwi consumers. 

The Commerce Commission says it was reasonable for businesses to raise their prices as wholesale prices rose. 

But it says they also need to reduce prices as wholesale prices fall. 

Waitomo Fuel CEO Simon Parham told Mike Hosking that's exactly what they're doing – they’re now selling 91 at below $3 per litre across their whole network. 

He says often people are hyper-aware when prices go up but then loose attention as prices do down.  

LISTEN ABOVE 

Officials are continuing to closely monitor petrol stations to ensure any fall in global oil prices is passed on to Kiwi consumers.&nbsp;
The Commerce Commission says it was reasonable for businesses to raise their prices as wholesale prices rose.&nbsp;
But it says they also need to reduce prices as wholesale prices fall.&nbsp;
Waitomo Fuel CEO Simon Parham told Mike Hosking that's exactly what they're doing – they’re now selling 91 at below $3 per litre across their whole network.&nbsp;
He says often people are hyper-aware when prices go up but then loose attention as prices do down. &nbsp;
LISTEN ABOVE&nbsp;

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Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.The sharpest voice and mind in the business, Mike drives strong opinion,...

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Simon Parham: Waitomo Fuel CEO on the Commerce Commission pushing petrol stations to pass on falling oil prices to customers

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/a685d165-4880-479a-93a8-b46c015d7e8b/transcript