The Tasmanian government has called on Australia’s consumer watchdog to take action against potential fuel price gouging as the Middle East conflict drives prices higher.
Deputy Premier Guy Barnett wrote to ACCC Chair Gina Cass-Gottlieb on Wednesday, urging the regulator to use “all of the powers available to it” to prosecute any breaches.
“While we are all aware that the current situation in the Middle East has resulted in increasing oil prices, it is critical that an increasing oil price is not used as cover for any behaviour by retailers which sees fuel prices rising over and above the impacts of the events in the Middle East,” Barnett wrote.
He warned rapidly rising prices risked triggering panic buying, with consumers mistakenly believing there was a fuel shortage.
“All of the advice that the Tasmanian government has received from the federal government indicates that there is not a shortage of fuel in Australia,” he said.
Premier Jeremy Rockliff said “the book should be thrown at anyone caught fuel price gouging”
“It’s un-Australian,” he said. “We’ve written to the ACCC asking for all of the powers available to be used.”
Barnett said rising fuel prices significantly affected every part of Tasmania’s economy, with local businesses, the agricultural sector and households all feeling the pressure.
Such behaviour by retailers would “create a significant risk to Tasmania’s economy and our business sector”, he wrote.
The letter follows similar moves by other state governments.
Victoria on Tuesday announced anti-price gouging laws requiring retailers to lock in daily prices by 2pm or face fines up to $24,000.
South Australia has promised to triple compliance funding and double penalties for retailers who fail to report prices accurately.
The ACCC has already written to major fuel companies setting out its expectations, warning it will not hesitate to take action against any breaches.
Federal Energy Minister Chris Bowen has assured Australians there is no fuel shortage, with reserves at their highest level in 15 years.
Barnett said Tasmania’s Office of Consumer, Building and Occupational Services (CBOS) stands ready to assist the ACCC if required.
