NSW Fair Trading has launched an investigation into the price gap between E10 ethanol blend and octane 95 (premium) unleaded fuel.
Member for Port Macquarie, Leslie Williams said that while the ultimate responsibility for the price of petrol rests with the Federal Government, the New South Wales Government is making every effort to ensure that consumers get a fair deal with petrol pricing by making petrol companies accountable.
“As part of this investigation, Fair Trading will work with stakeholders and conduct its own review of the marketplace to ensure that consumers are not being ripped off at the pump,” Mrs Williams said.
“The findings of this investigation will be forwarded to the Federal Government’s Petrol Commissioner, Joe Dimasi.”
“This will be a good test to see if the Gillard Government actually cares about the effect of petrol prices on cost of living expenses or whether they are more concerned with the implementation of a Carbon Tax which will drive up costs even further,” Mrs Williams said
“Key members of the motoring industry share the NSW Government’s concerns, with the NRMA recently calling on the Independent Pricing and Regulatory Tribunal to investigate the gap between the price of E10 – ethanol – and premium unleaded fuel – Octane 95 – as part of its review of ethanol supply and demand in NSW.”
Mrs Williams also said that Fair Trading will this year review the petrol price sign Product Information Standard contained in the Fair Trading Regulation 2007.
“The Standard requires that petrol price boards display the price of regular unleaded petrol in a way that can be seen by motorists approaching the service station,” Mrs Williams said.
“The review will examine whether the Standard should apply to E10 petrol and whether additional fuels should be subject to the standard.”
“NSW Fair Trading’s recent compliance work on petrol price signage was designed to ensure price transparency, correct price signals and certainty to consumers when they fill up at the pump.
“Fair Trading has established a hotline on 1800 055 555 so that members of the public can report instances of misleading advertising at service stations,” Mrs Williams concluded.
Complaints can also be lodged via the Fair Trading website, www.fairtrading.nsw.gov.au.
