There is good news for Kiwi motorists just ahead of the holiday season, with filling up at the pump getting cheaper.
Since the start of October petrol prices have fallen by 32 cents a litre to around $2.14.
However, Prime Minister Jacinda Ardern, who accused fuel companies of fleecing consumers, says there are still underlying concerns.
Ms Ardern confirmed today fuel prices will be investigated in the Commerce Commission's first market study.
"New Zealanders deserve peace of mind that the price they’re paying at the pump is fair," Ms Ardern said.
"At the moment we can’t definitively say whether that is in fact the case across New Zealand so this is a market that most certainly warrants a full investigation."
Commerce and Consumer Affairs Minister Kris Faafoi says while several possible markets were mooted for consideration, the retail fuel market clearly met the test for investigations.
"Simply, it's in the public interest to ensure people and business aren’t paying too much for fuel," he said.
The commission will provide further information about the process and updates and will be required to publish a final report by December 2019.
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