NT legislation in the works to stop ‘price gouging’ at the pump

CHIEF Minister Michael Gunner says his Government is currently working on complex legislation to put an end to fuel ‘price gouging’ in the Northern Territory.

Fuel prices at Smith St United. UPL prices suddenly shot up from 108.7c/l to about 119.7c/l earlier this week. Picture: Katrina Bridgeford

CHIEF Minister Michael Gunner says his Government is currently working on complex legislation to put an end to fuel ‘price gouging’ in the Northern Territory.

Mr Gunner put fuel companies on notice last month after Territorians were forced to pay almost 40c/l more than the terminal gate price at the pump in April.

“The petrol giants [should] consider this my first and final warning. Cut your prices or I will cut them for you,” he said.

One month on, Mr Gunner says he believes his warning has been effective because overall fuel prices had fallen in Darwin since April.

Data from the NT Department of Treasury shows average prices of unleaded (UPL) in Darwin have fallen since April from 121.8c/l to about 116.9c/l in June.

But UPL prices suddenly shot up again across Darwin to about 119.7c/l earlier this week.

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A motorist in Darwin’s CBD said he was left feeling very frustrated as he watched the price for unleaded go up from 108.7c/l to 119.7c/l within seconds of filling up at United on Tuesday.

The Chief Minister assured Territorians he wouldn’t be letting fuel companies off the hook just yet.

“Last month Darwin was the second most expensive capital city for petrol, this month we are the second cheapest,” Mr Gunner said.

“Our warning worked, but the petrol giants should know we are still watching them.

“They aren’t off the hook.

“We are working on legislation to make sure there is no risk of price gouging happening in the Territory.

“It’s complex legislation but we are determined to get it right.”