Time to crack open the exclusive oil giants' club

Establishing a terminal where independent retailers can import their own fuel will help crack Australia's long running fuel oligopoly and deliver fairer petrol prices for all Australian motorists.
 
Responding to the today's ACCC report into petrol prices, NRMA Motoring & Services President Alan Evans said Australia's petrol industry had been a big boy's exclusive club for too long. 
 
"The ACCC has today labelled Australia's petrol industry as a comfortable oligopoly, which is what the NRMA has been saying all along - four oil giants with huge market concentration," Mr Evans said. 
 
"The evidence that there is too little competition in the industry can be found at bowsers across the country today where petrol prices are exceeding $1.40. 
 
"Independent retailers have been in an unfair fight for too long because their prices have been dictated by the oil giants. 
 
"Giving independent retailers access to their own fuel source, rather than forcing them to buy from their competitors, will go a long way to bringing down the price of petrol. 
 
"There is nowhere near enough competition in this market and it is Australian families who are suffering."
 
The report stated that a combination of factors had enabled domestic refiners to dominate wholesale petrol markets. 
 
"This has resulted in prices above the levels they would be if the market was more competitive. 
 
"With that in mind there is no need for oil giants to collude in the narrow sense as defined by the Trade Practices Act."

The NRMA welcomed the ACCC´s recommendation to extend Fuel Watch and publish the prices of petrol at service stations in real time.
 
"Prime Minister Kevin Rudd and Assistant Treasurer Chris Bowen should be congratulated for acting quickly to expand the powers of the ACCC and work towards appointing a Petrol Commissioner as soon as possible."