The nation’s consumer cop has blasted “unjustified” profit-grabbing at the pump, estimating the city’s drivers paid about US$150 million too much in the past year.
A new Australian Competition and Consumer Commission (ACCC) report reveals average gross retail margins for unleaded fuel in Melbourne reached AU$0.135 (US$0.11) per liter between April and June.
“While motorists are enjoying the cheapest petrol since 2002, we believe prices should have been even lower, given the continuing high gross retail margins,” Mr Sims, the ACCC chairman, said on August 30.
“The increase in gross margins since 2014-15 may partly reflect regulatory and compliance costs, especially in NSW. However, the ACCC believes that these increasing costs do not fully explain the sharp increase in margins.”
That’s the highest, in inflation-adjusted terms, since monitoring began in 2002.
Full Content: The Australian
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Australia’s Major Supermarkets Face Scrutiny Over Profit Margins Amid Rising Prices
Mar 21, 2025 by
CPI
Fired FTC Commissioners Warn of Potential White House Influence Over Mergers
Mar 20, 2025 by
CPI
Dr. Matthew Backus Joins Compass Lexecon as an Affiliate
Mar 20, 2025 by
CPI
UK to Boost Broadband Competition While Capping Openreach Charges, Says Ofcom
Mar 20, 2025 by
CPI
Singapore Competition Watchdog Yet to Receive Formal Notification on Grab-GoTo Merger
Mar 20, 2025 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Self-Preferencing
Feb 26, 2025 by
CPI
Platform Self-Preferencing: Focusing the Policy Debate
Feb 26, 2025 by
Michael Katz
Weaponized Opacity: Self-Preferencing in Digital Audience Measurement
Feb 26, 2025 by
Thomas Hoppner & Philipp Westerhoff
Self-Preferencing: An Economic Literature-Based Assessment Advocating a Case-By-Case Approach and Compliance Requirements
Feb 26, 2025 by
Patrice Bougette & Frederic Marty
Self-Preferencing in Adjacent Markets
Feb 26, 2025 by
Muxin Li