News

ACCC Report Highlights Fuel Market Concerns

26.2.2015

The peak national body representing the motoring consumer, the Australian Automobile Association (AAA), has welcomed the consumer watchdog’s first quarterly report into the Australian fuel market.

“The report confirms retail petrol prices in larger cities have declined in recent months but highlights regional motorists have not experienced the same price reductions of their city counterparts,” Acting Chief Executive James Goodwin said.

“It is concerning that many motorists have not benefitted from the full impact of a reduction in the wholesale price,” he said.

“We look forward to the ACCC announcing the location of its first study into regional markets, which should provide a clearer indication of why regional fuel prices have not declined to the same extent as prices in cities,” Mr Goodwin said.

The report also showed that there were fewer price cycles in most of the capital cities.

“Longer and fewer fuel price cycles has made it challenging for motorists to know when to fill up and improved fuel price transparency would assist motorists to maximize savings,” Mr Goodwin said.

The AAA is also concerned by the report’s findings that diesel and LPG prices have not fallen as much as international prices.

“Motorists driving vehicles using diesel and LPG should feel hard done by, as reductions in the wholesale prices for these fuels have not been passed on to the extent that petrol has,” he said.

…ends.

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