Farmers welcome ACCC’s new petrol price reports

NSW Farmers today welcomed the Australian Competition and Consumer Commission’s decision to monitor and analyse fuel markets in a more regular and in-depth way.

Mr Peter Wilson, Chair of the NSW Farmers’ Business Economics and Trade Committee, said that for too long regional consumers had been paying too much for their petrol and diesel fuel.

“While our metro counterparts have seen a reduction in fuel prices of late, this has not transpired in regional markets.”

The report released by the ACCC today indicates the static nature of regional petrol markets. According to the ACCC, average city prices fell by around 35 cents from July to January whereas the gap between city and country increased from 5.7 cents to 17 cents per litre.

Mr Wilson said NSW Farmers looked forward to the ACCC undertaking this work.

“While it is disappointing it only has the capacity to review three regional markets a year, we will provide any assistance we can to help it with its analysis.”

The ACCC study will involve both quarterly macro reports looking at the drivers of fuel price movements in all capital cities and around 180 regional locations, as well as at least four market studies looking at micro issues which include analysing the drivers of petrol prices in particular regional markets.


 

15 January 2015 

Contact: Amy Williams

Phone: 1300 794 000

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