The Australian Competition and Consumer Commission (ACCC) has reiterated its concerns over potential price gouging at fuel stations, addressing the pressing challenges Australians face with skyrocketing petrol prices. Many consumers are finding it increasingly difficult to afford or even access fuel amidst surging costs.

Fuel suppliers have been called upon by the ACCC to clarify the reasons behind the rapid escalation of petrol prices. The agency is seeking transparency on why these prices have been rising at such an accelerated pace.

Before the onset of the conflict in Iran, the average price for petrol hovered around $1.80 per litre. However, this figure has now surged to approximately $2.20 per litre. Diesel prices have climbed even more steeply, now reaching about $2.45 per litre.

ACCC Commissioner Anna Brakey has highlighted the importance of transparency from fuel companies. “We urged the fuel companies to be open and honest with consumers about the reasons for their pricing decisions,” she stated.

Brakey further emphasized that since the crisis began, the ACCC has received numerous complaints from consumers who are both concerned and frustrated about the pricing practices of retailers. The commission continues to advocate for fair and understandable pricing to alleviate the financial burden on Australians.

“Since this crisis began we have heard from many consumers who are concerned and frustrated about pricing conduct by retailers.”

ACCC Chair Gina Cass-Gottlieb confirmed she would ensure strong action would be taken against fuel suppliers found to be price gouging.

“If we find there is conduct that is collusive, for example any agreements to divide up or supply certain customers or set prices, or any other collusion in breach of competition laws, we will investigate it and take action,” she said.

Cass-Gottlieb claimed the ACCC were given “important information about the supply chain [and] the volatility in international pricing,” but she encouraged fuel suppliers to be open with customers, especially farmers in rural regions who are beginning to struggle with a lack of petrol.

“We encourage fuel companies to be accurate, open and honest about the reasons for price increases across the country and to treat their customers fairly,” she said.

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