From the middle of next month, fuel suppliers have to advertise a spot price for fuel at their storage terminals and supply wholesale customers who want to buy, known as terminal gate pricing.
The companies will also have to make sure long-term supply contracts are not restrictive and prevent outlets shopping around for better deals.
The rules are part of a revised regulatory system to allow greater competition and ultimately lower prices.
"We expect that fuel businesses will comply with the requirements of the Act from the time those requirements come into force on August 11," commission chairwoman Anna Rawlings said.
"We encourage parties that may be affected to seek legal advice to ensure they understand the rights and obligations that apply to them."
The changes followed the commission's fuel market study of 2019, which pointed to shortcomings and lack of competition in the fuel market and was taken up by the Government.
A second set of changes come into force in February, including a requirement for petrol stations to display the price of all fuel products.
Breaches of the new system could costs businesses penalties of up to $5million.
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Shifting the blame to retailers for the taxes/excise that the government charges you. Combined tax rate is approx 55-58% for each litre of petrol.
Right they've had the warning, they know the rules. There should be strict enforcement followed by quick prosecutions of any who breach them. No further warnings or hand slaps with a wet bus ticket.
I don't accept the argument that taxes are the main reason for high prices and price increases. New taxes are announced early, debated widely and given a long lead in time before they are activated. There has not been any for quite some time. Yet the price of fuel keeps going up. Also, the petrol companies are all making massive profits, literally $billions each year that they return to their offshore owners. It';s not going to get any cheaper either as the demand for their product starts to diminish.
Hit them hard and hit them fast.