Major oil companies must absorb fuel costs

Australia's four large oil companies should do the right thing by motorists and absorb any increase in the costs of fuel following the jump in crude oil prices.
 
NRMA Motoring & Services President, Alan Evans, said the oil companies were caught with their hand in the honey pot before Christmas when they helped themselves to above-average profit margins. 
 
"The oil giants were caught helping themselves to an early Christmas present at the expense of motorists," Mr Evans said. 
 
"There are currently no laws in Australia that could force them to give that money back so the onus is now on them to do the right thing and not pass on any additional price hikes because of the current price of crude oil. 
 
"It is the right thing to do."
 
Mr Evans said the oil companies were currently under an unprecedented level of scrutiny. 
 
"The NRMA has lost absolutely none of its energy or drive in our campaign to get a fairer deal for motorists at the bowser," Mr Evans said. 
 
"Since Christmas we have also seen the ACCC and the Australian Government tighten the screws on the oil companies. 
 
"The new Petrol Commissioner needs to be appointed as quickly as possible and they need real powers so that they not only have the capacity to catch the oil companies doing the wrong thing, but punish them as well. 
 
"Shaming them publicly is one thing, but hitting back with heavy fines is the only way to pull them in line."