Issue Date:  -  Monday, 25 March 2002

Motorists missing out.

Consumer Protection Commissioner, Pat Walker, today warned motorists that fuel prices have risen again despite no apparent justification from the oil companies.

“Major oil companies are gradually increasing the highest prices they charge for fuel which means motorists are missing out on reasonably priced fuel,” said Mr Walker.

“In recent weeks, we’ve found the major oil companies are not only increasing the highest price charged for fuel during the profit or price cycle in Perth, but they’re also decreasing the length of the price cycle.

“This means that motorists are paying more for their fuel and are missing out on the longer period when fuel prices are lower.”

“The major oil companies are increasing their fuel prices at a far faster rate than the maximum wholesale price (MWP) for fuel,” Mr Walker said.

Mr Walker explained that the MWP has steadily increased since January due to a rise in the Singapore price; the benchmark for fuel prices in Australia.

“However, there is no apparent justification for the higher prices currently being charged given they are significantly higher than the MWP,” Mr Walker said.

“The MWP for tomorrow is 84.7 cents per litre and the average metro price for unleaded petrol (ULP) is 92.4 cents per litre. Caltex led the most recent price hike and today upped their prices by an average of 7.9 cents per litre for company-controlled sites.

“We’re doing everything we can at a State level to ensure reasonable prices for WA motorists and we hope the Australian Competition and Consumer Commission will provide decisive leadership on this matter.”

The Department of Consumer and Employment Protection administers the FuelWatch service that provides accurate fuel pricing information to consumers throughout WA.