Aucklanders are in for cheaper fuel today as petrol stations are no longer collecting the regional fuel tax.
From today, Auckland's 11.5c per litre regional fuel tax no longer applies.
The Government has abolished the tax which was implemented in 2018 and meant to be in place for 10 years to help fund infrastructure in Auckland.
Petrol stations were put on notice by the Automobile Association which kept a close eye to ensure the removal of the tax was reflected in the price consumers pay at the pump.
On Monday, AA senior policy advisor Terry Collins told Newshub fuel prices have dropped by 11.5c per litre.
"We will continue to monitor prices to ensure they remain in line with fuel import costs and overheads to ensure all New Zealanders receive a fair deal at the pump," Collins said.
- Have you noticed any Auckland petrol stations not passing on the 11.5 cents? Email news@newshub.co.nz
According to price tracking app Gaspy, as of the time of publication, 91 unleaded petrol was down $12.42 cents compared to 28 days prior, while 95 was down $11.51c and diesel was down $9.33c.
The cheapest fuel in Auckland for 91 was Costco Fuel Westgate at $2.39 per litre, followed by Gull SPEEDLANE Wiri at $2.42 per litre and NPD Self Serve Wiri at $2.44 per litre.
It comes after a Commerce Commission report proved retailers were quick to put prices up in response to increased costs, but slow to drop them when international oil prices fall.
The Commission believes that delay means we're collectively overpaying for fuel by about $15 million a year. It warned if fuel companies didn't reflect the scrapping of the Regional Fuel Tax promptly in prices, Aucklanders could be overpaying by nearly $1 million in the first week alone.
The Commission also said it will also be keeping a close watch on the pricing tactics and pass-through of cost changes by fuel companies.
Newshub.
