Canberra’s high prices for petrol have prompted action on the Government’s part with the Chief Minister and Minister for Consumer Affairs announcing two separate inquiries to be held to determine why the market has failed ACT motorists.
Chief Minister, Andrew Barr said there were clear indications the market had failed to deliver competitive fuel pricing for ACT residents.
“To date, there have been no credible reasons put forward for why ACT residents pay significantly more for fuel than NSW residents in the Canberra region,” Mr Barr said.
“The Government has written to the Australian Competition and Consumer Commission and I have personally met with the Chairman to implore him to use that body’s investigative powers to undertake a deep dive analysis on why the market is failing in the ACT.”
However he said, the ACCC had refused his request.
“With fuel prices continuing to hurt ACT drivers, the Government will move to establish a Select Committee of the Assembly to inquire into how fuel prices are determined in the ACT, the impact of rising fuel prices on Canberra drivers, and regulatory and legislative solutions that could have a real effect on fuel prices,” Mr Barr said.
“The Government has also tasked the Independent Competition and Regulatory Commission (ICRC) to conduct a factual analysis of fuel price factors and market competition.”
Minister for Consumer Affairs, Shane Rattenbury said the Assembly’s Select Committee would be looking closely at what was possible to bring down prices for consumers.
“In the meantime, we encourage the community to vote with their feet — or car — before deciding which petrol stations to attend,” Mr Rattenbury said.
“Areas where there are a range of options, such as near the airport or Fyshwick, can be good options to fill up the car at generally more competitive prices.”
