It’s a small mercy in light of the price rise that’s to come at the end of September, but the Australian Competition and Consumer Commission has been running the ruler over fuel retailers who failed to pass on the federal Government’s cut in excise.
That was revealed when the ACCC released its regular fuel price monitoring report on 5 September.
The ACCC says there are a handful of locations in regional areas where decreases in petrol and diesel prices were smaller than the cut in excise.
“These sites are in regional areas that often sell low volumes of fuel, meaning that it took them time to sell their existing fuel stocks (which had been purchased at the pre-excise price),” the ACCC said.
“We are assessing these responses to determine if any further action is required.”
The Commission blames record international prices for crude oil and refined petrol driven by demand, production cuts by Russia and the OPEC cartel, and war in Ukraine for high prices.
There are a number of steps NatRoad Members can take when the Federal Government suspends its reduction in excise after 29 September and they will be discussed in the free 21 September Webinar with tax experts Chris Sant and Jordan Lo Rosso from Ryan.
You will hear how you can claim your full Fuel Tax Credit entitlement (including how to optimise claims for bulk fuel tanks), whilst receiving practical tips on claiming your full entitlement prospectively. Register here.