Fuel powers to keep lid on price
NEW powers to investigate fuel prices that come into effect today will force retailers in regional areas to be more competitive.
And you can do your bit to ensure the regions get a fair deal.
The Liberal National Government has directed the Australian Competition and Consumer Commission (ACCC) to monitor and report on fuel prices quarterly rather than annually and the body now has the power to investigate specific markets of concern.I have raised fuel price concerns with the ACCC in the past, and said the ACCC has an obligation to protect consumers from unfair trading practices.The new powers are a welcome weapon in the fight against price gouging.Petrol retailers are enjoying profit margins double the historic average, which is highway robbery when the price of oil has plummeted to a four-year low.We often see huge disparity between city and country fuel prices and regional areas are expected to be targeted for investigation.I will be monitoring the price of fuel in North Queensland closely and comparing it with other regional centres and capital cities.
I also ask motorists to play a role in keeping our market competitive by reporting cases where they believe North Queenslanders are being ripped off.
If you feel your local petrol station is not playing fair you can outline specific details in an email to: fuel@georgechristensen.com.auA broad selection of first-hand evidence to prove price disparity will build a stronger case for the ACCC to investigate our specific region.