PETROL retailers must start giving Australian drivers a fair go and drop their prices in line with the international benchmark, the consumer watchdog says.
The Australian Competition and Consumer Commission (ACCC) says the international benchmark of Singapore Mogas 95 unleaded petrol had declined significantly in late May.
Wholesale prices had dropped as a result, but the retail price at the bowser stayed high.
"I call on the petrol retailers to immediately give Australian motorists a fair go and drop their petrol prices in line with recent international price movements," ACCC chairman Graeme Samuel said today.
Mr Samuel said there was usually a time lag of between seven and 10 days between movements in Singapore and Australian prices, so retail prices in Australia should have already started declining.
"If petrol retailers are genuine about their commitment to keep petrol prices in Australia in line with the international benchmark, they need to pass on the wholesale price savings as soon as possible to motorists who are preparing for a long weekend."
The ACCC website shows Perth was the most expensive city for buying unleaded petrol yesterday, with an average price of 135 cents per litre.
The cheapest was Brisbane, with 124 cents a litre.
