Grace period ends for Qld fuel price reporting laws
April 12, 2019
last year, the Queensland Government commenced a two-year trial of new laws
that require all fuel retailers to report fuel prices every time fuel prices
are changed. The new laws, which came into effect on 3 December 2019, were
developed following eight months of government consultation with industry
stakeholders (including ACAPMA) in terms of both the scheme design and initial
laws require that fuel retailers report changes in fuel prices within 30
minutes of making a change to the price of any fuel product on the pump. Notification of price changes can be made via a commercial
arrangement with a third-party fuel reporter (e.g. Informed Sources) or lodged
directly via the website (see www.fuelpricesqld.com.au)
The reported data is then made available to fuel
price app developers and publishers who, in turn, make
this data available to motorists via their existing consumer facing platforms
(i.e. websites and mobile phone apps).
The Queensland Government has advised that more than 1400 service station sites are reporting data as at 12 April 2019, which represents 95% compliance by Queensland fuel retailers.
“The high rate of compliance by fuel retailers to date is a credit
to both the co-operative approach advanced by the Queensland Government to
encourage compliance and the positive efforts of the vast majority of fuel
retailers to ensure their business is compliant with the new laws”, said ACAPMA
CEO Mark McKenzie
“With the three-month grace period ending on Monday 15 April 2019,
those retailers who have not yet complied risk being fined for non-compliance
and should therefore address this issue urgently”, Mark added.
Fuel retailers not currently reporting their fuel prices should visit www.fuelpricesqld.com.au to confirm their business and site details. The website includes an easy to follow help menu that provides step-by-step guidance on how to register your business for price reporting and commence price reporting which basically comprises the four steps highlighted in the diagram below.
To support compliance with the scheme, the Queensland Government
has also put in place an innovative data matching and monitoring system to
check compliance and ensure fuel retailers are reporting correct prices.
“While no business likes regulation, it is fair to say that the
Queensland Government has adopted a fair and reasonable approach to the
introduction of fuel price reporting – an approach that has resulted in a high
level of compliance with a minimum of fuss and no financial penalties to this
point”, said Mark.
“Any Queensland fuel retailer failing to satisfy this requirement
from Monday 15 April 2019, however, risks financial penalty”, concluded Mark