ZB

Z Energy rejects claims that it's pocketing more profits from rising fuel prices

Author
Newstalk ZB,
Publish Date
Tue, 25 Jan 2022, 8:08am
(Photo / Getty Images)
(Photo / Getty Images)

Z Energy rejects claims that it's pocketing more profits from rising fuel prices

Author
Newstalk ZB,
Publish Date
Tue, 25 Jan 2022, 8:08am

Z Energy is rejecting claims that it's pocketing more profits from rising fuel prices.

New Zealanders are feeling the pain at the pump, with fuel prices the highest ever, and continuing to rise this summer.

The Ministry of Business, Innovation and Employment has released data suggesting much of the price rise is due to fuel companies pocketing more profits.

Z Energy Chief Executive Mike Bennetts told Tim Dower its margins rose just one cent per litre in the last three months, and the data is wrong.

“At times during that three month period, what Z was achieving was ten cents a litre less than what MBIE were actually showing.”

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