The Australian Competition and Consumer Commission has received a direction from Minister for Small Business, the Hon. Bruce Billson MP, to undertake more timely and targeted monitoring of the fuel industry.
The new direction commenced today to coincide with the end of the previous monitoring direction.
“The ACCC welcomes this new direction from the Minister, which will enable the ACCC to provide regular quarterly reporting on price movements.”
“This direction will also allow the ACCC to take a closer look at elements of the fuel market that are of particular concern to consumers.”
“The ACCC has a dedicated team and resources to carry out these functions,” Mr Sims said.
Consumers are encouraged to use the ACCC’s new petrol price cycle charts to help to decide when to buy petrol.
“The ACCC will be providing further information on its new reporting framework in January,” Mr Sims said.