Assistant Treasurer, Minister Assisting for Financial Services & Superannuation and Minister for Competition Policy & Consumer Affairs
5 March 2012 - 18 September 2013
Work Proceeds on Fuel Board Regulations
Motorists are a step closer to consistent, nation-wide regulation for fuel price boards, said Assistant Treasurer David Bradbury.
Following today's meeting of consumer affairs ministers in Adelaide, the Commonwealth will begin work with the States and Territories on the development of a national approach to fuel price board regulation.
"Consumers deserve to be have consistent price information when they pull into a service station," said Mr Bradbury.
"Motorists rely on fuel price boards to make decisions about where and when they fill up, but these boards can often be confusing and display different prices and fuel types depending on the service station."
Motoring organisations and consumers are concerned that the prominent display of discounted petrol prices on fuel price boards may be misleading consumers.
The Australian Competition and Consumer Commission (ACCC) has also recommended that consideration be given to developing an information standard under the Australian Consumer Law to ensure that there is a consistent national approach to fuel price boards.
"I have asked Treasury and the ACCC to begin work with the State and Territory fair trading regulators to look at developing an information standard to stamp out misleading fuel price boards," said Mr Bradbury.
"An information standard could help to end motorists' confusion by providing for consistent fuel price board advertising at a national level."
The Policy and Research Advisory Committee (PRAC), which is comprised of all of the Commonwealth, State and Territory consumer law enforcement and policy agencies, will look at the possible development of fuel price board information standards and will report to a future consumer affairs ministerial council.
6 July 2012