The Federal Government has asked consumer watchdog, the Australian Competition and Consumer Commission (ACCC) to investigate possible petrol price fixing.
Competition Policy Minister Craig Emerson said Labor had long been concerned that petrol companies were colluding to set a weekly price cycle, and as such, asked the ACCC to look into the matter on Wednesday.
“The government has asked the ACCC to assess whether co-ordinated activity among major oil companies is affecting the pattern and height of the regular price cycle to the detriment of motorists,” Dr Emerson said in a statement.
The ACCC will provide a review to Emerson by Christmas.
Petrol prices expected to rise