ACCC warns petrol companies not to increase prices between now and Christmas

THE consumer watchdog has put Big Petrol on notice, saying there is no good reason for a price hike between now and Christmas.

The ACCC has warned petrol companies not to raise prices in the lead-up to Christmas. Picture: AFP / Adrian Dennis

THE consumer watchdog has put Big Petrol on notice, saying there is no good reason for a price hike between now and Christmas.

Fuel purchases are about to reach their yearly peak before plunging by nearly 30 million litres or 18 per cent to the annual low point just before the New Year.

Analysis by the Australian Competition and Consumer Commission finds that:

* in Sydney, the average E10 price peaked at $1.30/L on December 11 and has been falling since then;

* in Melbourne, regular unleaded jumped to an average of $1.30/L on November 18 has been declining slowly after that;

* in Brisbane, the average charge for unleaded rose to about $1.36/L on December 13; and

* in Adelaide, unleaded kicked more than 20c/L higher on December 6 to an average of about $1.29/L and has since fallen.

Most regional prices don’t have a high-to-low cycle like the state capitals. Perth has a fixed weekly cycle.

“The fact that prices should be decreasing, albeit from high levels, during a period of high demand will be some comfort to motorists,” ACCC chairman Rod Sims said.

“Motorists should keep an eye on petrol price movements and use the increasing number of fuel price apps available to help them decide when and where to buy petrol. These apps show that petrol prices do sometimes significantly vary in many buying areas.”

ACCC Chairman Rod Sims. Picture: Adam Smith

Originally published as ACCC warns petrol companies not to increase prices between now and Christmas