ACCC investigates petrol price collusion
Friday 4 May 2012 @ 2.47 p.m. | Corporate & Regulatory
The Australian Competition and Consumer Commission has commenced a formal investigation into price information sharing arrangements in the retail petrol industry.
The independent watchdog says it believes such arrangements may breach the Competition and Consumer Act and claims it has put the industry on notice for some time about its concerns.
The ACCC says the petrol price sharing arrangements allow for the private and very
frequent exchange of comprehensive price information between the major petrol retailers.
The watchdog is concerned this allows petrol retailers to quickly signal price movements,
monitor competitors’ responses, and react to them.
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