National leader Simon Bridges is calling for the Government to reverse the new petrol taxes in light of the $5.5 billion operating surplus announced on Tuesday.
The debate around the cost of petrol is heating up amid revelations almost $1.18 in every litre of petrol is made up of various taxes at the current price of $2.459.
Prime Minister Jacinda Ardern came out swinging on Monday, saying motorists were being "fleeced" by the petrol companies and promising to carry out a study on the fuel market.
She promised to push through the Commerce Ammendment Bill which would give the Government the power to conduct those studies.
But Tuesday's surplus announcement only added to the opposition's calls for the Government to act now.
"The Government has piled on taxes since the election. The extra fuel taxes alone are pushing up the price of petrol for Kiwi motorists by hundreds of dollars a year. It needs to reverse these extra costs," Bridges said.
Auckland drivers found themselves lumped with another 10c per litre added as a regional fuel tax and this month another 3c was tacked on nationally as part of the fuel excise tax.
But Ardern said the price of petrol had gone up 19c a litre since the start of the year while the excise tax had only increase 3c + GST.
Oil firms, she said, were most definitely "profiteering".
"New Zealand's pre-tax fuel price is the highest in the OECD, and 10 years ago it was not the highest."
The Commerce Amendment Bill is set to be passed in two weeks' time.
BP and Z Energy welcomed the passing of the bill saying it would reassure motorists they were paying a fair price.
BP managing director Debi Boffa said recent price changes had been influenced by increases to the cost of product and the weakening NZ dollar as well as the new taxes.
Z Energy chief executive Mike Bennetts disagreed prices were unjustifiably high.
"Margins have increased from an unsustainable level in 2008 which saw fuel majors exit New Zealand, it has not increased at the level suggested."
And motorists themselves are also taking action with the price of petrol at a record high, and rising.
Julia Roche and Donicia Cameron started a Facebook event recently, encouraging the public to avoid filling up from all petrol stations around the country for the day on October 26.
Already 15,000 people have signed up to take part and another 18,000 people had expressed an interest.
But public action would not stop there, Roche said.
Beyond October 26, she said they would look to focus on one petrol company at a time, in no particular order, until change happened.
Roche said the increasing cost was impacting on her family.
"I have to look at where I go and what I do with my children."
Roche who has four children, added she doesn't get to see her elderly parents as much now too.