Victorian petrol retailers have been warned to pass on the full effect of the Victorian government's franchise fee cut which comes into effect on Sunday.
"Victorian petrol prices should begin to fall following first deliveries on Sunday and Australian Competition and Consumer Commission investigators will be out and about monitoring deliveries and prices that morning to ensure consumers receive the full benefit," ACCC Chairman, Professor Allan Fels, said today.
"Prices should fall by around 1.6 cents per litre for petrols and 4.0 cents per litre for distillate.
"The ACCC expects that the full cut in the fee will be passed on to consumers. The ACCC has written to the Victorian Automobile Chamber of Commerce seeking its assistance in informing its members of the ACCC's expectation.
"The ACCC investigators will be closely monitoring prices before and after the first deliveries at the lower prices.
"They will visit metropolitan sites on Sunday morning and some country areas during the day.
"In country Victoria, due to longer times between deliveries, the full impact may not be felt immediately as old stock is exhausted.
"Further, the ACCC will be liaising with the RACV and the Victorian Department of Fair Trading on country price movements over the next few days and will report the results of it monitoring to the Victorian Government."
Further information Professor Allan Fels, Chairman, (06) 264 2829 or pager (016) 373 536 Ms Lin Enright, Director, Public Relations, (06) 264 2808
