Major Fuel Suppliers Investigated for Alleged Price-Gouging in Australia Amid Iran War
Australia's competition watchdog is probing top fuel companies for anti-competitive conduct as the Iran war sparks growing fuel shortages. PM urges motorists to only take what they need.
Australia's competition watchdog is investigating major fuel suppliers including Ampol, BP, Mobil, and Viva Energy for alleged anti-competitive conduct amid growing shortages sparked by the Iran war.
Australian Competition and Consumer Commission boss Gina Cass-Gottlieb said on Thursday morning she was investigating reports about diesel availability to independent wholesalers and distributors in regional and rural Australia.
Prime Minister Anthony Albanese also announced the creation of a new national fuel supply taskforce to monitor the crisis and address concerns around price-gouging and supply shortages.
Albanese urged motorists to "only take what you need" at the pump, warning that panic-buying could exacerbate the issue. He emphasized the government's commitment to ensuring affordable and reliable fuel supplies for all Australians.
The investigation by the ACCC comes as regional and rural areas of Australia have reported diesel shortages, with some service stations running dry. This has raised concerns about the ability of these communities to access essential fuel for their vehicles, agriculture, and other industries.
Cass-Gottlieb stated that the ACCC would be closely monitoring the situation and taking enforcement action if any anti-competitive behavior or price-gouging is uncovered. She emphasized the importance of maintaining fair and transparent fuel prices for all Australians during this challenging period.
The creation of the national fuel supply taskforce is aimed at coordinating the government's response to the fuel crisis and ensuring that essential services and industries can continue to operate effectively. Albanese has pledged to work closely with the fuel industry and state/territory governments to address the underlying issues driving the shortages and price fluctuations.
Experts warn that the Iran war and resulting global supply chain disruptions are likely to continue impacting fuel availability and pricing in Australia for the foreseeable future. The government's actions to investigate potential price-gouging and establish a dedicated taskforce are seen as crucial steps to mitigate the crisis and protect Australian consumers and businesses.
