ACCC Targets Fuel Retail Giants, Informed Sources Over ‘Price Sharing’

The Australian Competition and Consumer Commission (ACCC) has taken aim at the major fuel retailers, this time over alleged ‘price sharing’.

Coles and Woolworths are again in the ACCC’s sights, along with BP, Caltex, 7-Eleven and the fuel price information service ‘Informed Sources’.

It’s alleged the information supplied to Informed Sources (and updated every 15 minutes) about fuel prices is being used by rival retailers in a manner similar to ‘price fixing’, with initial investigations focusing on the Melbourne market.

ACCC Chairman Rod Sims said fuel retailers could effectively ‘suggest’ a price-rise to rivals through the service.

"It is alleged that retailers can propose a price increase to their competitors and monitor the response to it," Mr Sims said, speaking with the ABC.

"If, for example, the response is not sufficient, they can quickly withdraw the proposal and may punish competitors that have not accepted the proposed increased price.”

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