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����consumer watchdog says motorists are losing��out because retailers quickly raise fuel prices, but are slow to slam the brakes when global oil prices fall.��

But a major energy company today said it was already planning to pass some price cuts on to customers.��

The Commerce Commission said its latest analysis of fuel monitoring data showed New Zealand motorists often paid more for longer than was justifiable.��

Commissioner Bryan Chapple said this happened due to lopsided or asymmetric pricing known as “rockets and feathers”.��

Chapple said there was evidence fuel companies kept temporarily higher margins after a decrease in costs, lasting up to a fortnight.��

”Our findings suggest that petrol prices shoot up at the pump in response to increased costs, but there is a noticeable lag in retail prices being lowered in response to decreases in underlying costs.”��

The commission said if fuel companies dropped prices as fast as they increased them when costs changed, motorists would gain about $15 million a year.��

Chapple said the issue was especially topical with the looming removal of the��Auckland Regional Fuel Tax.��

The��11.5¢-a-litre tax��will end on June 30.��

“The commission has clear expectations that fuel companies will promptly pass the benefit of this reduced tax through to consumers,” Chapple said.��

Fuel delivered to the Auckland region from July 1 will be cheaper by 11.5¢ litre, he said.��

“If fuel companies don’t reflect this drop promptly in retail prices, Aucklanders could be overpaying by nearly $1m in the first week alone.”��

Z Energy said it was committed to giving customers a fair deal.��

“We price our fuel competitively with the aim of offering value and service to our customers and undertake daily pricing reviews,” a Z spokeswoman said.��

Z Energy says despite what the Commerce Commission claims, it already has plans to pass cost savings in Auckland on to consumers when the regional fuel tax ends. Photo / Warren Buckland��

The cost of fuel at the pump comprised several factors, she said.��

Those included included global market fluctuations, shipping and freight costs, carbon prices and local competitive pressures.��

“Decisions Z makes regarding any price changes (up or down) are based on the multiple price inputs. When you’ve got external factors like the oil price moving around a lot, we do our best to moderate the impact on customers a bit like a shock absorber.”��

She said in the lead-up to the Auckland Regional Fuel Tax ending, Z was working to ensure the price change was immediately passed on to customers in full.��

The Brent Crude oil price at 11am today was US$81.63. That was pricier than at the start of this month, when it was US$80.��

But the latest price was still well down from early April, when it went above US$91.��

Exchange rates also influence petrol prices.��

Since April 30, the New Zealand dollar has been mostly strengthening against the US dollar, but was still down against the US currency compared with the start of the year.��

Consumer website Gaspy today said the price of unleaded 91 was down 7.22 per cent since mid-May.��

Meanwhile, Chapple sent a warning to the petrol retailers.��

”In a healthy and competitive fuel market, we expect to see changes in underlying costs fully passed through into retail prices promptly.”��

He said the commission would be keeping a close watch on pricing tactics.��

“This will include observing the pricing within and around the Auckland region before and after the Auckland Regional Fuel Tax is removed, and reporting on its findings.”��