Fuel retailers have been told that the Australian Competition and Consumer Commission (ACCC) will be watching petrol and diesel prices in the coming weeks.

The Australian Competition and Consumer Commission (ACCC) has warned service stations not to “take advantage” of customers as the government’s price-lowering measures begin to phase out.

As petrol and diesel prices soared in March due to conflict in the Middle East, prices were temporarily reduced by 32 cents per litre through a reduction in the fuel excise tax.

With that temporary support beginning to be phased out as fuel prices normalise, trimming the discount to 16 cents per litre from 1 July, ACCC Commissioner Anna Brakey has said the consumer watchdog will be keeping a close eye on prices.

“The ACCC expects that fuel retailers will not attempt to take advantage of this increase in excise,” Brakey said in a media statement.

“We will closely examine fuel price movements and market behaviour, both in the lead up to and following the increase in fuel excise.

“We will not hesitate to take action if retailers make false or misleading statements about price movements or if there is evidence of anti-competitive behaviour.”

The 32-cents-per-litre discount had been expected to cease in its entirety at the end of June; however, Prime Minister Anthony Albanese instead announced a surprise partial extension earlier this month into July.

“The extension to the fuel excise cut we’ve announced today recognises that economic and fuel stability recovery will take time, and our action provides a graduated return to normal settings for the fuel excise,” Albanese said on June 21.

Extracted in full from:  https://www.drive.com.au/news/fuel-retailers-warned-not-to-take-advantage-of-customers/

SHARE THIS ARTICLE: