Fuel prices in Australia are not regulated and are subject to the
competitive forces operating in the market, with suppliers free to set their
own price. However, the Australian Competition and Consumer Commission (ACCC)
has three main roles in relation to the petrol industry:
- enforcing the provisions of the Competition and Consumer Act 2010;
- monitoring the petrol industry; and
- informing the public about the petrol industry.
In its 2011 Monitoring of the Australian Petroleum Industry report, the ACCC
noted that petrol prices in regional areas are often higher due to greater
transport costs, lower turnover and in some cases lower levels of competition.
In view of the ACCC's responsibilities, the Member for Wallsend should address
any further questions regarding this issue to the Commonwealth.
As the consumer protection regulator in NSW, Fair Trading can and does take
action against traders who breach the provisions of the Australian Consumer Law
(ACL) or the Petrol Information Standard in the Fair Trading Regulation 2007.
The Standard mandates that price boards at petrol stations be positioned and
lit in a way that can be seen by motorists approaching the petrol station at
any time it is open for business and display the price per litre of regular
unleaded petrol. The Standard is designed to increase transparency and
disclosure by petrol stations on the price of fuel. The Standard is to be
reviewed and updated by 1 September 2012.
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