Australia: Festive fuel hike in firing line

THE nation’s competition watchdog is investigating major petrol companies and retailers over recent price hikes that did not match world oil prices.

The Australian Competition and Consumer Commission has written to the heads of the oil companies and the two major supermarket chains, Coles and Woolworths, asking them to justify the price jumps.


Commission chairman Graeme Samuel said yesterday the watchdog was “seeking an explanation of the recent significant divergence of the price of unleaded petrol . . . relative to the international price movements”.

“The ACCC has expressed its concern that a significant divergence has again occurred between the Australian retail price of unleaded petrol relative to the price of Singapore Mogas 95, the international indicator benchmark price,” he said.

Sydney Morning Herald