Australian Competition and Consumer Commission advised petrol retailer to pass on the lower global oil price to consumers and suggested that retailers should not use the current pandemic to further increase profits.
- ACCC also mentioned that since the starting of the year 2020 the weekly average international crude oil prices have decreased by ~ USD 50 per barrel, while the Australian wholesale petrol prices have decreased ~ $50 cents per litre; and,
- The ACCC Chair, Rod Sims, said that the current low oil price environment is one of the few positives from current world events.
