The ACCC has launched an enforcement investigation into allegations of anti-competitive conduct by the major fuel suppliers in Australia, including Ampol, BP, Mobil and Viva Energy.
The competition watchdog has received reports concerning diesel availability to independent wholesalers and distributors servicing regional and rural Australia.
Since the US and Israel launched a war in Iran, global oil prices have risen sharply with Diesel averaging more than $2.40 per litre in major cities, with some areas exceeding $2.90 per litre.
This has hit farmers and rural areas particularly hard, leading to speculation that oil companies were profiteering from the conflict and lack of global supply.
“The ACCC is closely scrutinising all fuel markets during this period, and we have received reports of alleged anti-competitive behaviour. We are therefore investigating these matters urgently,” ACCC chair Gina Cass-Gottlieb said.
“It is not our usual practice to publicly announce investigations, but given the significance of the issue, the ACCC is confirming this enforcement investigation. We recognise the widespread concerns held by consumers, businesses and farmers about fuel pricing and supply issues arising during the Middle Eastern conflict.”
“It is important that fuel market participants and the community know that we are closely watching market conduct in relation to all fuels and we will not hesitate to act swiftly to enforce Australia’s competition and consumer laws,” Cass-Gottlieb said.
“Our investigation is at a preliminary stage, and therefore we are yet to form a view about these matters.”
