Sometimes it’s better just to shut up.
Transport Minister Simon Bridges says he’s warned petrol companies he’s watching how much profit they are taking at the pump.
But rather than say ‘yes minister’, one company has told the Government to check its facts because they’re wrong.
When oil prices dropped late last year Mr Bridges thought petrol company margins didn’t follow fast enough, and¬†he was outspoken¬†with his disapproval.
“What is¬†clear – they¬†got too high.”
The price of a litre includes the cost of the fuel, taxes, shipping and GST, while the remaining 18 percent goes to the company.
The Government says companies make roughly 30 cents per litre, but fuel company Z’s CEO Mike Bennetts says it only make about 19 cents at the pump. Read more »