Quarterly reports on the petroleum industry in Australia have been prepared by the ACCC since 2015.
ACCC Chairman Rod Sims today provided details on its approach and likely areas of study following Minister Bruce Billson’s recent direction to monitor and analyse fuel markets in a more regular and in-depth way.
The ACCC will be producing at least eight reports in 2015, of two types:
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.”
The Australian Competition and Consumer Commission has released its seventh annual report into the prices, costs and profits of unleaded petrol in Australia. The report covers the period from July 2013 to June 2014.
“At 150.6 cents per litre (cpl), 2013-14 saw the third highest average price on record in real terms. This was primarily driven by the international oil price and the Australian/US dollar exchange rate,” ACCC Chairman Rod Sims said.
The Australian Competition and Consumer Commission has accepted a court enforceable undertaking from Mobil Oil Australia Pty Ltd (Mobil), in which Mobil agrees that it will not subscribe to the retail petrol price information exchange service supplied by Informed Sources (Australia) Pty Ltd (the Informed Sources service) for the next five years.
Mobil has also undertaken not to subscribe to any similar electronic retail petrol price information exchange services where subscribers:
The Federal Court in Sydney has today found that Woolworths breached a court enforceable undertaking provided to the Australian Competition and Consumer Commission under section 87B of the Competition and Consumer Act 2010 by a 4 + 4 cents fuel discount offer made until 9 March 2014 that was conditional on Woolworths supermarket purchases.
However, the Federal Court dismissed the ACCC’s allegations against Coles and Woolworths that their recent offers of bundled discounts breached their undertakings to the ACCC.
The Australian Competition and Consumer Commission has released its 2013 report on the prices, costs and profits of unleaded petrol in Australia.
“The report shows that international prices and domestic fuel taxes are the key drivers of petrol prices. Domestic petrol prices remained high in 2012-13 on the back of persistently high international prices,” ACCC Chairman Rod Sims said.
The average annual retail price at the pump for the five largest capital cities during 2012‑13 fell slightly to 141.3 cpl compared with 142.8 cpl in 2011‑12.