Fuel

Fuel price data can benefit motorists and retailers

Speaking at the Asia Pacific Fuel Industry Forum today, ACCC Chairman Rod Sims outlined how fuel price data from websites and apps empower price-sensitive consumers. The industry can then attract these consumers through discounts to increase their sales.

Since 2016 fuel price data has been readily available to motorists from an increasing number of websites and apps. These include the NSW FuelCheck scheme, the GasBuddy app, the NRMA app and the 7-Eleven app. This information assists consumers find the best time to buy at sites with the lowest prices.

Petrol prices at lowest level since 2002, but margins high

The Australian Competition and Consumer Commission report on the Australian petroleum industry for the June quarter 2017 shows that retail margins remained high despite quarterly average petrol prices in the five largest cities dropping by 3.9 cents per litre (cpl) from the March quarter to 125.2 cpl.

In 2016-17 annual average petrol prices were at their lowest levels in real terms since 2001-02 (see Chart 1).

Annual average retail petrol prices in the five largest cities were 122.6 cpl in 2016-17, slightly higher than in 2015-16 in nominal terms.

Quarterly report on the Australian petroleum market - June quarter 2017

The eleventh quarterly report under the petrol monitoring arrangements announced by the then Minister for Small Business, the Hon. Bruce Billson MP, in December 2014.

Quarterly report on the Australian petroleum market - March quarter 2017

The tenth quarterly report under the petrol monitoring arrangements announced by the then Minister for Small Business, the Hon. Bruce Billson MP, in December 2014.

Petrol prices increased during the March quarter but fuel price apps can help motorists

The Australian Competition and Consumer Commission’s tenth quarterly report on the Australian petroleum industry has found that the quarterly average price for petrol in the March quarter 2017 was 129.1 cents per litre (cpl), which is the highest since the September quarter 2015 (133.2 cpl).

Prices in the five largest cities (i.e. Sydney, Melbourne, Brisbane, Adelaide, and Perth) increased by 7.1 cpl. Retail prices in Perth were the highest with the average retail petrol price in Perth reaching 132.1 cpl.

Report on the Cairns petrol market

The fourth market study report under the petrol monitoring arrangements announced by the then Minister for Small Business, the Hon. Bruce Billson MP, in December 2014.

Cairns drivers hit by high petrol profits

The average net profit per petrol station in Cairns was around 38 per cent higher than the average net profit across other sites around Australia in 2015–16, according to a new petrol market study published by the ACCC today.

“The ACCC’s Cairns petrol market report confirms what motorists have suspected for a long time: they are paying too much for fuel and contributing to very high profits for retailers in the area,” ACCC Chairman Rod Sims said.

Petrol prices were the highest in more than a year in December quarter

The Australian Competition and Consumer Commission’s ninth quarterly report on the Australian petroleum industry has found that the December quarter 2016 had the highest quarterly average price since the June quarter 2015. This coincided with unprecedented growth in popularity of fuel price comparison apps and websites as motorists seek out the cheapest fuel in their area.

Quarterly report on the Australian petroleum market - December quarter 2016

The ninth quarterly report under the petrol monitoring arrangements announced by the then Minister for Small Business, the Hon. Bruce Billson MP, in December 2014.