27 February 2015

Petrol report finds regional motorists hit hardest

Fuel retailers in regional areas have failed to pass on reductions in full and in a timely way, according to a new report directed by the Federal Government.

The Australian Competition and Consumer Commission (ACCC) has delivered its first quarterly report into the Australian petrol industry for 2015 following a new direction by our government.

The report found that petrol price reductions in Australia’s five largest cities were consistent with the fall in international oil prices and the price of refined petrol.

The ACCC highlighted that the reductions would be worth about $1000 a year to the average household if sustained.

However, the report found that these savings were not always being passed on in full or in a timely way to motorists in regional areas.

Petrol prices are of course a significant cost for many households in rural and regional Australia. It is simply not good enough for petrol retailers to gouge motorists in regional areas.

As a strong local voice for the people of Corangamite, I will continue to fight hard for fairer fuel prices for country towns. I am pushing very hard for the ACCC to investigate the Colac petrol market.

Our government knows that market forces alone do not always ensure consumers are looked after which is why we have given the ACCC the resources required to ensure Australian consumers get value for money.

We will continue to shine a light on petrol prices in rural and regional areas.

27 February 2015