Australia’s major fuel suppliers being investigated over alleged price-gouging amid Iran war | Australian Competition and Consumer Commission (ACCC)
Australia’s competition watchdog is investigating major fuel suppliers including Ampol, BP, Mobile and Viva Energy over allegations of anti-competitive behavior amid growing shortages caused by the Iran war.
Australian Competition and Consumer Commission boss Gina Cass-Gottlieb said on Thursday morning it was investigating reports about diesel availability to independent wholesalers and distributors in regional and rural Australia.
The news comes after prime minister Anthony Albanese appointed former Australian Energy Regulator chief executive Anthea Harris as the new national fuel supply taskforce coordinator.
Albanese urged drivers not to buy more fuel than they need and said the federal government wanted Australia to have more fuel than it needed. He also emphasized that the country’s fuel supply has not been interrupted for almost three weeks since the war led by the US and Israel, and said that “we are taking strict measures against oil companies that engage in price inflating.”
The ACCC has taken the unusual step of announcing an urgent investigation, citing widespread concerns from consumers, businesses and farmers over the growing Middle East conflict.
“It is not our usual practice to make investigations public, but given the importance of the matter, the ACCC approves this enforcement investigation,” Cass-Gottlieb said in a statement.
“It is important that fuel market participants and the public know that we are closely monitoring market trends for all fuels and will not hesitate to act quickly to enforce Australia’s competition and consumer laws.”
He said the investigation was at a preliminary stage and the ACCC had not yet formed an opinion on these allegations.
Albanese said Harris would coordinate supply and distribution issues between the federal government and the states and territories with immediate effect.
Speaking from Hobart immediately after a meeting with Prime Ministers, Albanese had a clear message for motorists across the country.
“Please do not buy more fuel than you need,” he said. “This is how you can help.
“It’s the Australian way to think about others, your neighbours, your communities, as well as the national interest. Just take what you need.”
More to come.
