Canberra fuel prices face parliamentary inquiry

The ACT Legislative Assembly is set to launch a parliamentary inquiry into Canberra’s fuel prices following a significant surge in costs. Recent data from the Australian Competition and Consumer Commission showed that Canberra had the highest average petrol prices among Australia’s eight capital cities as of September 16, with prices jumping 17.3 cents per litre in a single week.

Opposition Leader Mark Parton has called for the economics committee to investigate why Canberra motorists pay substantially more than those in surrounding regions, noting that unleaded petrol has approached $2.50 a litre. The inquiry aims to examine the local fuel market and whether the costs of operating service stations in the ACT contribute to the price gap.

ACT Treasurer Chris Steel stated that the government is monitoring markets to prevent price gouging. He noted an 18.5 per cent drop in petrol sales per capita between 2018-19 and 2023-24. Steel attributed the higher average prices largely to higher retail margins and weaker competition, citing a concentrated market with fewer independent retailers compared to those offering premium products.