The Commonwealth will work with the States and Territories to look at the development of regulations for fuel price boards, said Assistant Treasurer David Bradbury.
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.
The Commonwealth will ask the Policy and Research Advisory Committee (PRAC), which is comprised of all of the consumer law enforcement and policy agencies, to look at the development of potential regulation to address this issue at next week's consumer affairs ministerial forum in Adelaide.
"Consumers rely on fuel price boards to make decisions about where and when they buy their fuel," said Mr Bradbury.
"Motorists and motoring organisations have expressed concern, however, that fuel price boards that display discounted prices more prominently than any other price can be misleading.
"Consumers have a right to be concerned when they find that the price for the fuel they are filling up with wasn't even advertised.
"It's important that these boards are clear and easy to understand so that consumers can make an informed choice about where they buy their fuel.
"I will ask 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.
"An information standard could help to end confusion by motorists by providing for consistent fuel price board advertising at a national level.
"I would like to acknowledge the work of motoring organisations, including the Australian Automobile Association (AAA) and the NRMA, for their work in highlighting this issue."