The Australian Competition and Consumer Commission today placed on its website* a chart showing movements in domestic petrol prices compared with movements in international benchmark prices.
"The chart will enable consumers to see the extent to which retail petrol prices in Australia are moving in line with the international benchmark price which the refiner/marketers in Australia state that they follow", ACCC Chairman, Mr Graeme Samuel, said. "The chart will be updated weekly."
"The chart is designed to give consumers access to information about petrol price movements.
"A review of the ACCC website is under way and the provision of petrol information on the ACCC website, and reporting of petrol price monitoring, are among issues being addressed."
ACCC activity in this area may also be informed by the outcome of the ACCC petrol inquiry, which is to report to Treasurer by 15 October 2007.