New Zealand Competition Watchdog Greenlights Gull-NPD Fuel Merger
New Zealand's Commerce Commission has cleared the merger between independent fuel retailers Gull and NPD. The watchdog concluded the deal will not significantly damage competition at the pump. Consumer groups that have long pressed for tougher action are critical of the decision.
The Commerce Commission noted that the two networks overlap in parts of the South Island. But it concluded that competitive pressure from national chains such as Z Energy, BP and Mobil is sufficient. After the merger, the combined company will hold about 12% of New Zealand's retail fuel market.
The commission chair said retail fuel pricing is largely driven by world markets and that the merger alone could not set domestic prices. Still, the regulator said it would monitor pricing behaviour closely.
Consumer NZ said the case again shows that New Zealand's Fuel Industry Act needs review. The New Zealand dollar moved little against the US dollar after the announcement.
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