ACCC discontinues proceedings against Caltex

Today, the Australian Competition and Consumer Commission (ACCC) discontinued proceedings against fuel retailers, including Caltex, and Informed Sources on the basis of agreed undertakings.

Caltex welcomes this development and supports consumers being better informed on petrol prices. While petrol prices have always been transparent to consumers via price boards, a framework is now in place for third-party service providers, such as Informed Sources, to develop a consumer-based pricing service using information from fuel retailers.

Caltex uses the service to gather information on petrol prices in order to remain price competitive for customers. This information is already publicly available on petrol price boards, and the service simply makes it more cost-effective for fuel retailers to collect this data.

Caltex’s Executive General Manager Commercial Bruce Rosengarten said, “Caltex remains focused on reliably providing competitively priced, high quality fuel to consumers.”

The Australian retail fuel industry remains highly competitive, with Australian petrol prices the 5th lowest in the OECD.