FuelWatch spells death to independents, hearing told

Australias Senate committee inquiring into the National Fuelwatch Bill has been hearing submissions from Queensland industry figures in Brisbane. Under the proposed scheme, fuel retailers will be required to notify, by 2 pm, their next day’s retail price. Said price must be retained for 24 hours from 6 am the next day. Service Station and Convenience Store Association of Queensland Chairman Tim Kane told the inquiry that such a scheme would enable major retailers to push independent independent retailers out of the market. “That is what worries me as a service station dealer, as I will not be able to compete in the marketplace because I am locked into a price for 24 hours,” he said. “If one of my competitors posts a low price my consumers are probably disadvantaged because I would not be able to post a price equivalent to that.” Kane said independents currently check their competitors’ prices up to four times a day and can easily change their price throughout the day. (July 17, 2008)