Media Release – REVIEW OF NEW FUEL PRICING ARRANGEMENTS

The Price Tribunal is commencing a review of the new fuel pricing arrangements introduced in July 2015, as planned.

The key objective is to assess whether the objectives identified in the initial pricing review in January 2015 have been achieved, particularly whether the new pricing arrangements have delivered a reduction in the price of fuel for Cook Island consumers, offers improved protection to consumers, as well as assessing the effectiveness of bringing local market prices closer to global price movements and the equitable treatment of importers, wholesalers and retailers.

In addition, the review will also look at the efficacy of the new process, such as the administrative efficiency for all stakeholders including the necessary interactions with stakeholders in processing price orders.

The review will also take into account Pa Enua pricing arrangements, including Aitutaki.

The Review provides an opportunity for stakeholders to express their views on the new pricing arrangements and any other issues relating to fuel price regulation. The full details of the review are available at the Consumer Division of the Ministry of Internal Affairs and will also be made available at all fuel retail outlets on Rarotonga and Pa Enua.

Extensive meetings with stakeholders, focus groups, questionnaires and data analysis will commence over the next few weeks with support from the Secretariat of the Pacific Community.

In addition, the Price Tribunal is inviting written submissions to be made by no later than 5 February 2016. The Price Tribunal encourages members of the public to take an active part in this process through written submissions to enable all views to be accurately reflected.

The Price Tribunal expects that the review will be finalised by the end of March 2016 with outcomes to be released in April 2016.

 

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Contact:

Mata Tangata

Price Tribunal Secretariat