Energy minister says BP email is a sign that petrol market is ‘broken’ | Stuff.co.nz

Energy Minister Megan Woods says she believes the petrol market is “broken” after a meeting with BP executives to discuss its pricing tactics.

Woods instructed BP to come to Wellington for a meeting in the Beehive after being shown an internal email in which a BP pricing manager outlined a plan to hike prices at a number of lower North Island sites in an attempt to protect falling sales at a fourth.

“Rather than just reducing the price in Ōtaki we will be looking to increase the price at Paraparaumu & Kāpiti and also Levin,” a BP pricing manager wrote in the email, revealed by Stuff on Monday. It added that the strategy had been working, with Z Energy matching a recent price increase.

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Energy minister says BP email is a sign that petrol market is ‘broken’ | Stuff.co.nz.