FUEL PRICES MUST COME DOWN: McCORMACK

Nationals’ Member for Riverina and Deputy Prime Minister Michael McCormack is calling on local fuel retailers to do the right thing and pass on savings from plummeting world oil prices to consumers.

Since early March, there have been large falls in international crude oil and international refined petrol prices which are flowing through to Australian wholesale prices.

“I am pleased lower wholesale prices are being passed on in some areas, but I am alarmed that there are pockets – including parts of the Riverina electorate – where motorists are being slugged with prices way above what they should be paying,” Mr McCormack said.

“While motorists in Wagga Wagga have been able to buy Unleaded 91 petrol for as low as 91.9 cents per litre (cpl) this week, motorists in Young are paying as much as 139.9cpl and even as high as 150.3cpl in one instance for E10 – that’s a whopping price difference.

“A number of constituents in Young and Cootamundra have contacted me to complain about paying through the nose for petrol and I don’t blame them for being upset.

“I understand there are a number of factors which often result in rural and regional areas paying more for fuel and for price drops to take longer to kick in, but for motorists those excuses are starting to wear thin.

“In these tough times when people’s incomes have been cut or they have been thrown out of work because of the COVID-19 pandemic they need and deserve a fair go with petrol prices.

“We are in this together and now is not the time to make big profits at the expense of people who can least afford to pay.”

Mr McCormack said Australian wholesale and retail prices were not regulated by the Government and the Australian Competition and Consumer Commission (ACCC) has no power to set prices.

The ACCC cannot control the petrol prices which retailers set, but it has called out retailer behaviour where there is evidence of excessive prices.

Mr McCormack said motorists should follow pricing apps, use fuel price websites and take advice from motoring bodies, including the NRMA, on when and where to fill up most cheaply.

NSW motorists can use the FuelCheck website and app to identify sites with relatively competitive prices.

The Federal Government will continue to watch the actions of fuel retailers in regional areas closely.