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Caltex Acquisition Should Not Proceed


Caltex Acquisition Should Not Proceed

Author: NRMA Motoring & ServicesDate: 03 September 2009

NRMA Motoring & Services President Wendy Machin today called on the Australian Government to respond to the ACCC's findings and intervene to prevent Caltex's proposed purchase of 302 Mobil service stations.

"The ACCC has raised serious concerns that Caltex's acquisition will reduce competition in the wholesale and retail market," Ms Machin said.

"The NRMA alluded to the fact that competition would be seriously compromised in our submission to the ACCC on the proposed acquisition.

"The consequences of this acquisition proceeding can only be detrimental for Australian consumers - with greater market concentration inevitably leading to higher pump prices.

"The stimulants of competition at the bowser - the independents - would be under even more pressure to survive should the Caltex deal go through as proposed.

"The NRMA looks forward to receiving the ACCC's final findings on 7 October that will include Caltex's answers to the competition questions raised.

"We expect the Australian Government to prevent this acquisition from proceeding unless Caltex can prove that the acquisition will not lead to higher fuel prices."

Contact: Daniel Stanton 0439 133 092

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