Howard backs ACCC on petrol pricing

Prime Minister Howard has committed to providing the Australian Competition & Consumer Commission (ACCC) more powers if requested. Graham Samuel, the ACCC Chairman, has warned petrol retailers they risk public shaming and greater regulation if they do not meet their own pricing benchmarks. Samuel has pointedly commented on the time lag between a fall in the benchmark Singapore prices and the Australian retail price. The National Roads & Motorists Association wants the ACCC to have the power to investigate pricing, access company accounting records, force retailers to drop prices and also publicly name and shame offending companies and operators.