10 March 2016

Queensland consumer watchdog urged to investigate the high cost of fuel in Brisbane

A full investigation of petrol prices will be launched by the Australian Competition and Consumer Commission (ACCC), if the Queensland Government gets its way.

A report released by the ACCC recently shows average petrol prices in Brisbane have been at least 2.4 per cent higher than Melbourne, Sydney, Adelaide or Perth for the last six years.

This is despite the fact the cost of delivering fuel are very similar in all major Australian cities, and transport costs in Brisbane are likely to be similar to other cities.

Queensland energy minister Mark Bailey hosted the Queensland Government’s Petrol Price Summit, which brought together industry representatives and brought interesting information to light recently.

“Officers from the ACCC presented the report of their study on the Darwin petrol market, and also provided an update on similar reviews underway in Armidale and Launceston,” he says.

“I want the ACCC to now launch a study into the Queensland market as soon as possible.

“I initially requested this when I wrote to ACCC chairman Rod Sims earlier this year, and after the summit, I’m convinced this is the next step.”

Bailey was shocked by the confirmed that Queenslanders were paying more for fuel, for reasons that are yet to be explained.

“Not only did it show that Brisbane has had consistently higher prices than other capital cities, it also found that regional areas have been slow to decrease their petrol prices.

“The summit was clear that we need to ensure motorists have accurate point of sale information, but that any new requirements for service stations are not onerous on operators which could then drive petrol prices up.

“We’ll be consulting further to look at any measures we can take at a state level to promote more discounting and lower prices for consumers.”

The ACCC is expected to release a statement on its intention to launch further studies focusing on Queensland fuel prices later this year.

Extracted in full from Australian Bus & Coach.