FED: National investigation into petrol prices to be held

AAP General News (Australia)
08-21-1999
FED: National investigation into petrol prices to be held

Australia's competition watchdog will be ordered to investigate soaring petrol prices as
concerns grow about how much consumers are paying at the pump.

State consumer affairs ministers passed a motion at a meeting in Tasmania yesterday calling
on the Australian Competition and Consumer Commission to investigate the movement in prices
over the past six months.

Federal Financial Services Minister JOE HOCKEY, who has responsibility for consumer
affairs, will now formally request the ACCC probe.

Mr HOCKEY says the latest advice from Treasury is that petrol price rises are due to the
doubling of world crude oil prices since February.

The investigation follows an outcry over rising petrol prices, which have hit more than 80
cents a litre in some areas, and the difference between prices in cities and the bush.

The federal government is poised to deregulate the petrol industry, raising concerns that
will spark more price increases.

AAP RTV rmm/wz/rp/kbw

KEYWORD: PETROL (CANBERRA)

1999 AAP Information Services Pty Limited (AAP) or its Licensors.