Aussie Watchdog Cracks Down on Petrol Price Gouging
ACCC receives over 500 reports of potential price-gouging at petrol stations since Iran war began, vows to take action against retailers exploiting motorists.
Australia's competition watchdog, the Australian Competition and Consumer Commission (ACCC), has received more than 500 reports of possible price-gouging at petrol stations since the outbreak of the war in Iran. Fuel retailers have been put on notice, with the ACCC chair, Gina Cass-Gottlieb, promising to come down hard on any businesses found to be taking advantage of the situation and unfairly hiking prices for motorists.
Cass-Gottlieb told Guardian Australia that the ACCC has been receiving further information about fuel price increases moving faster than the usual petrol price cycles in the initial days of the war. This suggests some retailers may be capitalizing on the geopolitical tensions and price volatility to unjustly boost their profits at the expense of consumers.
Source: The Guardian
