Alongside last week’s release of a fuel price app by NRMA, a recent report by the Australian Competition and Consumer Commission (ACCC) reveals that lower wholesale fuel prices have not been passed on to consumers.
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The ACCC has revealed that despite the lowest level of average petrol prices since 2002, gross retail margins also increased to their highest levels, indicating that the full benefits of lower international crude oil and refined petrol prices are not being passed on to motorists.
“This report suggests that in order for there to be more competitive pressure on retailers, consumers need to shop around and reward those offering the best-priced fuel,” ACCC chairman Rod Sims said.
Now NRMA has released MyNRMA, linking into the real-time fuel price data provided to the Department of Fair Trading by 2000 service stations across NSW.
“By forcing service stations to post prices in real time, the industry will receive some much needed transparency and more of the power will rest in the hands of the informed motorists,” NRMA’s Wendy Machin said.
The MyNRMA app is currently available on the Apple store and will be available on Google Play this month.
