Formal inquiry into fuel prices requested as Territorians pay 30c per litre more

The Opposition is calling on the Fyles Government to announce a formal inquiry into fuel prices, with Territorians facing huge price disparity at the bowser.

THE Opposition is calling for a formal inquiry into fuel prices as Territorians are slogged up to 30c more per litre at the bowser.

Country Liberal Party leader Lia Finnocchiaro said the disparity between the NT and the rest of the nation was unfair.

“For too long Territorians have been paying too much because when the price of fuel is so high so too is the price of goods and services,” she said.

“This is an unsustainable contribution to our skyrocketing cost of living that the Fyles government could something about.”

A report by MotorMouth on Monday said the average price of petrol in Darwin was 195.6c/litre, while it was just 160.3/litre in Perth and 162.6/litre in Sydney.

Ms Finnocchiaro suggested Labor needed to request a formal inquiry into the issue, which would allow the parliament to ask fuel companies and industry experts about why prices were so high.

Opposition Leader Lia Finnocchiaro is calling for action on the huge prices Territorians are paying for fuel. Picture: Glenn Campbell

“An outcome from this inquiry could include a cap on profits and/or prices as just one solution to this problem,” Ms Finnocchiaro said.

Solomon MP Luke Gosling told MixFM that current petrol prices were “not acceptable”.

“There may have been letters written to the retailers asking them to explain what they’re doing but I just fear [retailers are] not taking it seriously,” he said.

“They’re taking Territorians for mugs and we need a bigger stick, because if we don’t apply that pressure they would come about as a result of an inquiry or some legislation around transparency, then they’re going to keep taking the piss.”

Mr Gosling said he would support action to ensure transparency around the costs.

“Territorians are getting dudded and the retailers need to come clean and explain why Territorians are paying so much more than the rest of the country, because it just doesn’t add up,” he said.

Chief Minister Natasha Fyles said the government would take “necessary steps to promote competition, prevent opportunistic profiteering, and reduce the cost of living”.

“Our mandatory fuel price reporting scheme, MyFuelNT, is one example that has promoted greater transparency and provided crucial real-time price data to consumers,” she said.

“Fuel prices are starting to decrease around the country and in the Territory – but our government stands ready to take further action to protect Territory consumers should margins stay high without a reasonable explanation.”

Ms Fyles confirmed her government had already taken some action and sent a letter.

“This is why I have written to the ACCC and fuel companies around Australia, as they play a crucial role in driving down the cost of fuel,” she said.