Fed: No 'obvious' price fixing in petrol market: ACCC

AAP General News (Australia)
12-18-2007
Fed: No 'obvious' price fixing in petrol market: ACCC

The Australian Competition and Consumer Commission inquiry into petrol prices has found
no obvious evidence of price-fixing.

But assistant treasurer CHRIS BOWEN says the report released today confirms there are
grounds for concern.

Mr BOWEN says when petrol's expensive because world oil prices are high .. every cent
makes a difference to working families.

However he says the report makes it clear there are no easy answers .. and no magic solutions.

Mr BOWEN's ordered the ACCC to keep monitoring petrol prices and to report to him once
a year .. or more if the commission feels it's necessary.

He says the government's also moving to set up a petrol commissioner .. and will push
forward in the new year with a plan that'll put those found guilty of cartel conduct in
jail.

Mr BOWEN says the ACCC will also keep an eye on shopper-docket schemes .. and any impact
on competition.

And he says more work needs to be done on how to correct the information imbalance
between consumers and producers on petrol prices.

AAP jb/rl/jt/bwl/jmt

KEYWORD: PETROL (CANBERRA)

2007 AAP Information Services Pty Limited (AAP) or its Licensors.