Envisory reviewed the Australian Competition and Consumer Commission (ACCC) report into Australian petrol prices for applicability to the New Zealand market.

The review used the same methodology and processes of the 2007 ACCC investigation into Australian petrol prices, and applied these to the New Zealand market to assess which findings were also applicable to the New Zealand market. The report included:

• Analysis of retail prices against international benchmarks;
• Analysis of the speed of retail price changes in comparison to international benchmark price changes;
• Review of the segments of the petrol markets in New Zealand; and
• Recommendations to the New Zealand Government on price monitoring.

Envisory found that an ACCC style report on the New Zealand market would conclude (like Australia) that the petrol market was fundamentally competitive. Another key finding was that, contrary to public perception, petrol prices were not fast to rise and slow to fall, but moved in line with the international benchmarks.

This report was released by the Ministry of Economic Development (now Ministry of Business, Innovation & Employment) in July 2008.

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