Australia: Greedy petrol firms in hot seat with ACCC

THE bosses of Australia’s big four oil companies will this week be forced to explain why they have failed to pass on falling international petrol prices to local motorists in 2008.

Australian Competition and Consumer Commission chairman Graeme Samuel yesterday renewed his demand for crisis meetings with the chiefs of Caltex, Shell, BP and Mobil.


The Daily Telegraph revealed last week that Mr Samuel had finally “lost patience” with the refiners, accusing them of undermining the national economy and threatening to push interest rates even higher.

As the price of unleaded remained close to 140c a litre in Sydney yesterday, Mr Samuel stepped up his attack by calling the petrol giants opportunistic and disingenuous.

Daily Telegraph