PETROLEUM PRODUCTS – PRICES – AUSTRALIA

Cut prices to below $1.20, oil giants told

roymorgansocial Leave a comment

Original article by Glenda Korporaal
The Australian – Page: 3 : 31-Mar-20

Australian Competition and Consumer Commission chairman Rod Sims notes the slump in oil prices is good for the economy, given Australia is an importer of oil. Sims says that given Australian consumers are struggling to cope with the COVID-19 crisis, they should not be expected to have to buy petrol at above $1.30 a litre. Sims says prices should be, at worse, under $1.20, and "heading considerably lower". Sims is confident the Australian economy will quickly recover once the COVID-19 crisis is over.

CORPORATES
AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Petrol: PM’s tough talk won’t work

roymorgansocial Leave a comment

Original article by Phillip Coorey, Angela Macdonald-Smith
The Australian Financial Review – Page: 1 & 4 : 31-Oct-18

The average price of unleaded petrol has risen to a 10-year high of more than $1.60 per litre. Prime Minister Scott Morrison has flagged government intervention to put downward pressure on prices. However, he says it is ultimately up to petrol companies to "do the right thing". Caltex argues that the high crude oil price and the low Australian dollar are the main drivers of the spike in petrol prices. It adds that the government’s fuel excise tax of $0.412 a litre is also a major contributor, but government sources have ruled out an excise tax cut.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, CALTEX AUSTRALIA LIMITED – ASX CTX, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, LIBERAL PARTY OF AUSTRALIA, VERTIUM ASSET MANAGEMENT PTY LTD, AUSTRALIAN INSTITUTE OF PETROLEUM LIMITED

Petrol chains gouge country motorists

roymorgansocial Leave a comment

Original article by Patrick Durkin
The Australian Financial Review – Page: 3 : 15-Jan-15

The Australian Competition & Consumer Commission will investigate allegations that the cost of petrol remains much higher in regional and rural areas than in metropolitan regions. The average price of unleaded petrol is currently around $A1.197 per litre in the five main capital cities. However, motorists in regional cities and towns are paying between $A0.18 and $A0.44 per litre more. This includes Canberra and Hobart

CORPORATES
AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, COMMONWEALTH SECURITIES LIMITED, AUSTRALIAN INSTITUTE OF PETROLEUM LIMITED, QUEENSLAND. TREASURY, WOOLWORTHS LIMITED – ASX WOW, COLES GROUP LIMITED, WESFARMERS LIMITED – ASX WES, BP AUSTRALIA LIMITED, CALTEX AUSTRALIA LIMITED – ASX CTX, 7-ELEVEN STORES PTY LTD, INFORMED SOURCES PTY LTD

Wholesalers defend fuel pricing strategies

roymorgansocial Leave a comment

Original article by Peter Ker
The Australian Financial Review – Page: 21 : 8-Jan-15

The Australian Government has ordered a review of Australia’s fuel pricing system. The Australian Competition & Consumer Commission will monitor oil companies for three years. Viva Energy CEO Scott Wyatt said on 7 January 2015 that the pricing system works well. It is transparent and fast enough to ensure that savings resulting from lower oil prices are promptly passed on to retailers and motorists, he argued

CORPORATES
AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, VIVA ENERGY AUSTRALIA LIMITED, AUSTRALIAN INSTITUTE OF PETROLEUM LIMITED, EXXONMOBIL AUSTRALIA PTY LTD, 7-ELEVEN STORES PTY LTD, WOOLWORTHS LIMITED – ASX WOW, COLES GROUP LIMITED, WESFARMERS LIMITED – ASX WES, ROYAL AUTOMOBILE CLUB OF VICTORIA (RACV) LIMITED, AUSTRALIA. DEPT OF INDUSTRY