“The price of petrol is largely determined by external factors, not least the amount of tax applied by the Australian Government. Then there are other macroeconomic factors and external pricing cycles that come into play.
“We support transparency when it comes to pricing of fuel and bodies like the Australian Competition and Consumer Commission and the Australian Institute of Petroleum provide regularly updated petrol pricing information.
“It’s important for consumers to understand the external factors that impact the price they pay at the pump.
“From the retail perspective, petrol is a very low margin product for service stations. This is why owners must provide a broader strategic offer of other products and services to ensure the viability and success of their stores.
“Before retailers make any margin on petrol, there are transport costs, marketing and administration costs, and operational costs like wages, rent and utilities to cover. These have increased significantly in recent years, particularly energy costs, which especially affect those service stations which trade 24 hours a day.
“We encourage a competitive environment for retailers and manufacturers, small and large, and will continue to work with the ACCC and other relevant bodies to promote transparency in petrol pricing.”