25 September 2023

ACCC fires up petrol price gaps

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The Australian Competition and Consumer Commission (ACCC) has released new petrol pricing data exposing the most and least expensive suppliers across the nation’s five biggest capital cities.

The ACCC’s report Petrol Prices Are Not the Same: Report on Petrol Prices by Major Retailers in 2017 reveals Coles Express as the most expensive on average and Woolworths and independents generally the cheapest.

The ACCC said consumers who switched brands could save significant dollars.

It said the report detailed annual average retail petrol prices throughout 2017 and identified the highest and lowest priced major retailers in Sydney, Melbourne, Brisbane, Adelaide and Perth.

Chair of the ACCC, Rod Sims said the difference in prices ranged from 9.5¢ per litre recorded in Sydney to 3.6¢/L in Melbourne.

“Our analysis of petrol prices shows the range between major retailers with the highest average price and lowest average price varied across each city considerably,” Mr Sims said.

“Independent chains were the lowest priced in each of the five major cities and Woolworths was generally below the market average price in most cities.”

He said average prices at Coles Express were the highest in all five cities, and average prices at retail sites for which BP and Caltex head offices set the retail price were generally above the market average price.

Mr Sims said the report found the majority of consumers tended to go to the same petrol station every time they fill up.

“This research shows it might be time to consider which station to fill up at,” Mr Sims said.

“We want to remind drivers there are plenty of apps they can download for free that will tell them where to buy the cheapest petrol in their area.”

He said many people were paying more than they needed to for petrol.

The ACCC’s 46-page report can be accessed at this PS News link.

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