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Q+A: Are petrol retailers profiteering?

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Jacinda Ardern says petrol retailers are fleecing us. But is that true? Bernard Hickey explains on Newsroom what's underneath the pricing and industry dynamics at the pumps.

This week, Jacinda Ardern accused fuel companies of profiteering and promised to fast-track laws to allow a market study by the Commerce Commission. The fuel companies denied 'fleecing' their customers, but official figures show margins have doubled in the last decade. Z Energy's arrival in 2010 is a major factor.

But what's really going on?

Are they fleecing their customers?

It's rare for any politician to accuse companies of deliberately over-charging their customers, but that's what Jacinda Ardern did on Monday as the Government moved to blunt the political damage of fast-rising fuel prices.

The Prime Minister took a leaf out of Shane Jones' book and accused fuel companies of padding their profits at the expense of their customers, although she stopped short of naming a specific company.

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