News

Record Petrol Prices - Please Explain!

12.9.2005

The Service Station Association has warned that petrol prices could reach $1.45 per litre this week.

 

Australian motorists want governments and oil companies to explain why prices should go this high and where motorists’ extra petrol dollars have gone?

 

Even at current prices of around $1.35 per litre right around Australia—in some cases even higher than this and in Brisbane somewhat lower because of the State Government 8 cents per litre (cpl) subsidy—these prices cannot be justified.

 

Australian motorists want an explanation of:

 

    Why the Service Station Association believes prices will reach $1.45 per litre?

 

    Why the retail margin has reached around 12cpl, when it is normally around 3cpl?

 

    Why the refining and wholesale margin has reached around 13cpl, when it is normally around 7cpl?

 

    Why oil companies should raise petrol prices when they are collecting more than ever because of high world crude oil prices?

 

    Why Federal Government charges 38cpl and returns only 6cpl in road funding?

 

    How much extra revenue is the Federal Government collecting from oil companies in Petroleum Rent Resource Tax (PRRT)?

 

    How much extra GST on petrol is being collected by State Governments and how much of it is being returned to roads?

 

    When will ACCC get on with its job of getting answers for motorists?

 

Australian motorists are hurting, and want answers to these questions to set the agenda for a national summit.

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