New Zealand's Commerce Commission has approved the merger of fuel retailers Gull and NPD, concluding that the deal is unlikely to substantially lessen competition in the national fuel market. The decision, announced on May 8, 2026, follows an extensive review of the proposed merger.
The regulator stated that while the combined entity would have a significant market share in some regions, particularly in the North Island, sufficient competitive constraints remain from other major players such as Z Energy, BP, and Mobil, as well as independent importers. The commission also noted that barriers to entry for new competitors are not insurmountable.
Gull and NPD are both independent fuel retailers operating primarily in the North Island. Gull has a network of about 90 service stations, while NPD operates around 60. The merger is expected to create a stronger independent competitor against the larger multinational brands.
The commission's clearance is subject to standard conditions, including the divestiture of a small number of sites in areas where the merger would have reduced competition locally. The companies have agreed to these conditions.
