ACCC weighs in on fuel security, petrol sales

ACCC weighs in on fuel security, petrol sales

8 months ago
Petrol prices in Australia’s five largest cities stabilised at the end of 2020 after an unpredictable year and petrol sales volumes continued to recover from their earlier pandemic-driven slump, the Australian Competition and Consumer Commission (ACCC) has reported. Average retail price for petrol in December quarter 2020 across Sydney, Melbourne, Brisbane, Adelaide and Perth was 121.4 cents per litre (cpl), a decrease of only 0.7 cpl from the previous quarter. Of the five capital cities, […]
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Risk of shutting down national fuel security reserve

1 year ago
The existential threat that has enveloped Australia’s refineries due to the COVID-19 pandemic has put the Morrison government over a barrel, escalating pressure on it to step in immediately with a more generous assistance plan to save a sector critical for fuel security and local manufacturing. The risk of closure goes beyond the two plants owned by listed companies, with the patience of multinationals ExxonMobil and BP to struggle on with their ageing and inefficient […]
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Extra 1.12 cents a litre: Calls for petrol price hike to protect Australia’s fuel security

1 year ago
Australians would need to pay an additional 1.12 cents a litre for petrol in order to achieve fuel security, a new report has found. The report, written by BIS Oxford Economics and backed by the Australian Workers’ Union, argues that Australia must increase its fuel capacity by 4,000 million litres. By doing so Australia would reduce its need to rely on overseas sources – which could be heavily disrupted. “The pandemic has demonstrated an urgent […]
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