Queensland scraps fuel subsidy

Queensland officials threatened to “name and shame” any fuel retailers and grocers who raise prices unnecessarily, following scrapping of the state’s fuel subsidy. Queensland scrapped an A$0.08 (US$0.06) per liter fuel subsidy on July 1. Prices at the pump were expected to rise to an average of A$1.30 (US$1.04) a liter, as operators have to pay an extra A$0.09 (US$0.07) a liter in tax. According to Queensland Treasurer Andrew Fraser, the government was serious about maintaining its stance to publicly name petrol companies who raise prices too high. However, he said consumers had the most power to hurt companies by patronizing stations with lower fuel prices. (July 1, 2009)