AAA Questions Recent High Retail Fuel Margins
The Australian Automobile Association (AAA), representing eight constituent clubs with a combined total of almost seven million members, would like an explanation from the fuel retailers regarding fuel margins, which have recently been significantly higher than normal, especially for diesel.
In recent weeks, retail margins have been roughly double what the average margin has been over the past two years in capital cities. Retail prices have not moved in line with decreases in wholesale prices.
AAA’s acting Executive Director, Greg Goodman, stated that it was unacceptable that fuel retailers are quick to raise prices when the Singapore benchmark prices of refined fuel go up, but slow to lower retail prices when the Singapore benchmark prices go down.
AAA encourages motorists to shop around for the cheapest prices by looking at the websites of its constituent clubs, where detailed pricing information across Australia’s capital cities can be found.