Australia’s corporate regulator wants to tackle what it believes is collusion in the petrol industry, but court action to date hasn’t really succeeded.
The Australian Competition and Consumer Commission’s latest foray into the difficult and politically charged arena of petrol pricing is just the latest in a long running saga that is unlikely to be resolved by the regulator’s Federal Court move last week on industry pricing website, Informed Sources.
The ACCC is alleging the website, on which petrol retailers share their prices, has the effect of substantially lessening competition.
The saga is in part about petrol prices and the consumer hip pocket. But it is just as much, if not more, about whether it should be illegal for competitors generally to share information – information about future prices especially.