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Australia: ACCC warns regional petrol stations

By  |  February 26, 2015

Petrol stations that fail to quickly pass on the benefit of lower global oil prices will be scrutinised by the competition regulator, which has found the difference between city and country petrol prices jumped last year as crude prices dived.

Petrol prices fell by an average 42.7c in the seven months to the end of January, consistent with the slump in international refined petrol prices, delivering a boost to household budgets.

But the Australian Competition and Consumer Commission’s (ACCC) report on the local petroleum industry shows that household gains of $1000 over a year were unlikely because of the volatility in the international price of refined petrol, which is the main influence on retail petrol prices.

 

Full Content: Sky News

 

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