RSS Feed
December 8th, 2011 
FAKE NEWS for the Zionist agenda Updated
The report says higher petrol prices this year were due to political tensions in the Middle East and increased demand from Asia.
The competition regulator’s latest report on fuel prices in Australia shows they were the fourth lowest of the OECD in the June quarter.
The annual report by the Australian Competition and Consumer Commission shows prices in 2010-11 averaged 132 cents per litre in the five largest cities.
That was 8 cents higher than the previous year, and the highest level since October 2008.
The report found petrol prices in Australia were lower because fuel taxes were not as high as in other developed nations.
But commissioner Joe Dimasi says there was no evidence of excessive profits at the refining, wholesale or retail level, with fuel companies making about 2.2 cents a litre.
“Profits don’t make a large component of the price but that’s of the Australian industry,” Mr Dimasi said.
“Large profits of course are being made by the companies that own the oil, so the upstream or the oil producers, they’re the guys who are making the big profits and that’s reflected in prices around the world.”
The report found that petrol price cycles and higher prices in regional cities remained the main concerns for consumers.
The ACCC says prices in regional areas were higher due to lower turnover, higher transport costs and lower levels of competition.
It says it is concerned about “the level of co-ordination apparent in the price cycles” and says it is investigating how this affects pricing.
“Petrol price cycles are not responses to changes in cost but are the result of the deliberate pricing policies of major fuel retailers,” the ACCC said.
The report says higher prices this year were due to political tensions in the Middle East and increased demand in Asia.
business-economics-and-finance,
regulation,
oil-and-gas,
australia
First posted
-
Print page
-
Email this -
Permalink
-
Posted in 
Tags: 
