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Petrol Companies Price Hikes

Current media reports state that the federal government is considering forcing petrol companies to advertise their prices 24 hours in advance, so consumers can be prepared for the outrageous price fixing that happens on weekends and public holidays. maybe this could be expanded to force them to advertise three days, or even a week in advance.

Another strategy could be for all petrol stations to be included on a national website, showing thir comparative prices in each region, and their planned retail price for the upcoming week. Supermarkets and other retail outlets already do similar things, with catalogues and advertising designed to induce competition.

Petrol stations know when they place their order what the price of their products will be, just as other retail outlets do. There is no reason they need to determine their price on a daily basis, compared with the fluctuations in the market. The product is already paid for by the retailer.

If such a website were to be instigated, consumers could plan days in advance which service station close to them would afford the best deal. Newspapers and other media would provide a form of free advertising by public service announcements of the cheapest prices available.

Government would need to impose severe fines on outlets that advertised a price in advance, and then charged higher, just as other retailers already face such fines.

Maybe this would help bring some measure of accountability to an industry that seems to hold the whole country to ransom.

About Craig Hill

Social Justice Campaigner. Business and Education Consultant. Former Business/ESL Teacher. Lived in China and USA. Dealing with disability. My articles have been cited in New York Times, BBC, Fox News, Aljazeera, Philippines Star, South China Morning Post, National Interest, news.com.au, Wikipedia and many other international publications.


4 thoughts on “Petrol Companies Price Hikes

  1. Sounds like a great idea to bring a little accountability and real competitition to the local gas stations.

    Posted by Waldo "Wally" Tomosky | March 2, 2012, 04:43
  2. They still claim that there’s no collusion, yet gas stations at opposite corners of an intersection will change their prices to the same price at the same time… how?

    Posted by Marc Phillippe Babineau | March 2, 2012, 04:53

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