Coles Express leads petrol prices up in four capitals

Consumers should shop around in Melbourne, Brisbane, Sydney and Adelaide as Coles Express are leading petrol prices higher as the petrol pricing cycle peaks.

In these cities, petrol prices tend to cycle over seven days. Prices are often the lowest on a Wednesday morning and highest on a Wednesday night or Thursday morning.

"Analysis of petrol pricing in a 9 a.m. 'snapshot' today shows that Coles Express sites have set the highest prices in the four capital cities," Australian Competition and Consumer Commission Petrol Commissioner, Mr Pat Walker, warned. "Today in all four eastern capitals Coles Express was setting the highest prices at a significant number of its sites, which is consistent with a recent trend.

"There are often a range of retail prices for unleaded petrol charged by service stations in these cities. On any given day the range from the lowest available retail price to the highest is usually between 15 to 20 cents per litre.

"Consumer must look carefully at price boards to check the competition in their area before topping up their tanks.

"It is important that consumers do not automatically rely on their petrol discount voucher to necessarily deliver the lowest price," Mr Walker said. "In these cases, loyal shoppers redeeming their voucher at the highest priced sites are paying much more than they need to."

Background

The ACCC has been formally monitoring petrol prices since 17 December 2007 when the Assistant Treasurer and Minister for Competition and Consumer Affairs, Mr Bowen, directed it to formally monitor the prices, costs and profits relating to the supply of unleaded petroleum products in the petroleum industry, pursuant to section 95ZE of Part VIIA of the Trade Practices Act 1974. The ACCC monitors retail prices in all capital cities and around 110 country towns on a regular basis.