Good news for regional motorists and grey nomads
Good news today – especially for regional members and grey nomads – as the consumer watchdog gets new powers to monitor petrol prices and hunt for price gouging.
The Australian Competition and Consumer Commission (ACCC) will now issue quarterly reports on petrol prices, and conduct in-depth investigations into problem areas.
Minister for Competition Policy and Consumer Affairs Bruce Billson told the ABC today the ACCC would conduct about four “deep dive” investigations into fuel markets that are a concern due to unexplained high prices.
He named the Shoalhaven in NSW, the Northern Territory and some parts of Melbourne’s west as target areas.
“It’s a closer examination of pricing and margins, of supply impacts, of even the state of competition in particular markets,” he said.
“We’ve seen even in capital cities as the price of oil’s come down, the price at the bowser has come down more quickly in some capital cities than others.”
This is especially good news for regional areas, where a lack of competition often means the capital city price cycle doesn’t exist. Regions are also missing out on the ACCC’s new daily advice website on when is the best time to buy petrol.
