TOWNSVILLE MOTORISTS BEING RIPPED OFF AS PETROL PRICES FAIL TO FALL

Thuringowa MP and Minister Assisting the Premier in North Queensland Craig Wallace today called on North Queensland petrol companies to immediately cut the price of fuel or face consumer anger about petrol ripoffs.

Mr Wallace said the price of Townsville unleaded petrol had remained at about $1.56 since July 17 despite dramatic falls in the price of oil in Singapore, which generally determines Australian petrol prices.

Prices started falling in Singapore two weeks ago and it generally takes Australia a week or so to follow global oil price movements.

“Drop prices NOW,” Mr Wallace said.

“Falls in global prices are not being passed on in Townsville,” he said.

“The city’s motorists are simply being ripped off.”

Of 13 petrol stations surveyed in Townsville today, six were charging 156.9 cents for unleaded petrol, with others ranging from 153.9 to 157.9 cents.

Experts said earlier this week that a price reduction of up to 10 cents a litre could happen by next week.

Shell Australia said earlier today that world price cuts should already have been passed on to Australian motorists.

The Australian Competition and Consumer Commission also said falls in the benchmark oil price were not being passed on.

Average unleaded petrol prices in Townsville have risen steadily since May 18, reaching a record peak of $1.56 on June 17 and then remaining steady.

There was a $20 reduction in the price of petrol in Singapore in the past week.

“Petrol companies are quick to pass on price rises but they are dragging their feet on petrol price cuts,” Mr Wallace said.

Mr Wallace said North Queensland residents have been hit hard by rising food prices and higher housing interest rates.

“A drop in the petrol price would be very welcome but it should happen NOW,” he said.

“Higher fuel costs have a huge impact on the family budget – and consumers need to get relief NOW.”

Media contact: Minister Wallace’s office, 3896 3688.