Petrol prices
Another weekend and another round of price hikes at service station pumps.
With an election looming, Prime Minister John Howard says he’s willing to give the national competition watchdog greater powers to monitor oil companies amid claims of price-gouging.
Australian Competition and Consumer Commission (ACCC) chairman Graeme Samuel has warned them they will face greater regulation if bowser prices fail to rise and fall in line with benchmark Singapore indicators.
Mr Howard agrees but adds that the Federal Government has no direct power to set prices. While these powers exist at a state level, the PM questions the wisdom of trying to control prices, saying “you might interfere with supply”.
But will shaming oil companies be enough to give motorists a fair go? Tell us what you think!
