The Tasmanian Government is calling on the Australian Competition and Consumer Commission (ACCC) to immediately commence an investigation into fuel prices in the State.
Noting comments by federal Small Business Minister Bruce Billson that the ACCC now has the capacity to investigate fuel prices in certain regions in Australia, we have written to the Commission to ask that it do just that.
Fuel prices are of particular concern in Tasmania, where consumers are charged significantly higher prices than customers in other jurisdictions.
While we accept there are additional costs associated with shipping fuel to the State, we note that there is a significant difference in the margin between terminal gate prices and retail prices in Tasmania compared to the national average.
Current figures suggest this margin is about 20 cents a litre in Hobart, more than twice the national average, which we understand to be 8-10 cents a litre.
We are also concerned by anecdotal reports that reductions in global oil prices are not passed on in full or are passed on at a slower rate than any increases.
High fuel prices are a significant burden on Tasmanians and Tasmanian businesses.
That's why the Liberal Government is of the firm view that if the ACCC is to use its new powers to investigate fuel prices in specific Australian regions, then it should start with Tasmania.