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NRMA Launches Petrol 'Price Gap'


NRMA Launches Petrol 'Price Gap'

Author: NRMA MediaDate:

NRMA Motoring & Services will provide a daily price gap on its website between prices at the bowser and what it believes prices should be to protect motorists from being ripped off again.

With record high crude oil prices today, the NRMA has announced 'Price Gap', which will compare the average price in Sydney to a calculated theoretical price, which looks at factors such as:

  • Singapore refined price.
  • The exchange rate.
  • Shipping charges.
  • Terminal Gate price.

'Price Gap' will be available to motorists each day at www.mynrma.com.au and if the NRMA identifies any perceived price discrepancies the motoring group will immediately notify the ACCC.

NRMA President, Alan Evans, said the company would begin providing the daily comparison next week before the Easter holidays and continue the service until the Petrol Commissioner begins his role.

"The NRMA is concerned that with record crude oil prices and Easter one week away motorists are about to cop another public holiday mugging by the oil companies," Mr Evans said.

"The NRMA doesn't have the power to pull the oil companies into line, but we can play a role in keeping the spotlight on them until the Petrol Commissioner begins his job.

"That's why we will publish the daily price in Sydney and what we perceive to be the real price, using the industry benchmark the petrol companies themselves set.

"Oil companies were caught out ripping families off at Christmas, we hope today’s announcement will make them think twice about trying it at Easter as well."

The ACCC inquiry referred to the petrol price cycle as an enigma. NRMA economists will conduct the daily analysis using the best information freely available.

Once the Petrol Commissioner begins his role the NRMA will be suggesting to the ACCC that they continue providing this service to the Australian public.

Motoring testimony image

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