DEBUS PUSHES FOR END TO PETROL GOUGING June 12, 2007

Bob Debus today condemned the Federal Government for neglecting the interests of Bathurst motorists who have been forced to pay fluctuating high petrol prices over the last week.

Mr Debus, the Labor candidate for Macquarie, said Prime Minister John Howard’s failure to act was stretching the budgets of working families.

“The price of petrol in Bathurst shot up by nine cents a litre in one hit to peak at $1.45 last week,” said Mr Debus.

“How many more shocks at the petrol pump must we endure before Mr Howard sees that motorists are angry and confused?

“Petrol price peaks have created a double-whammy for Bathurst families.

“Firstly, the distances covered by regional and rural drivers are often greater than for city drivers. And secondly, the local economy is hit hard when Sydney people stop driving beyond the city limits to Bathurst because they can’t afford to fill their tanks.”

Labor leader Kevin Rudd pledged at the weekend to appoint an Office of the Petrol Commissioner, within the Australian Competition and Consumer Commission (ACCC), to stop petrol rackets. The Petrol Commissioner would have full powers under Part VII A of the Trade Practices Act to monitor and investigate prices.

“For too long, Mr Howard has ignored requests by industry experts to strengthen the powers of the pricing watchdog, the ACCC,” said Mr Debus.

“Treasurer Costello’s failure to act on his promise four years ago to outlaw petrol cartels shows how little this Government cares about the financial pain being felt at the bowser.”

Mr Debus said working families had been let down by the Government’s refusal to stop petrol companies from profiteering or colluding to keep prices high.

“Petrol costs are eating into family budgets so it is vital that motorists know prices are being set fairly.

“Labor’s Petrol Cop on the beat would make sure that local prices reflect the actual international oil cost.”

Mr Debus said the failure last week by the ACCC to prove price collusion by a group of Geelong petrol retailers added urgency to calls for action.

“A Petrol Commissioner with tough new powers would scrutinise the entire petrol supply chain for price gouging,” said Mr Debus.

“Working families have been exploited for long enough. Strong protection is needed.”