WA: Fuelwatch probes suspected profiteering in ULP rises
By Liza Kappelle
PERTH, Feb 17 AAP - Petrol prices in Perth soared to a two-year high of almost $1.08per litre at some fuel stations at the weekend, sparking an inquiry into suspected profiteering.
The West Australian government's fuel price watchdog launched a probe today after unleadedpetrol prices rose to 107.9 cents a litre in the metropolitan area.
Fuelwatch's assistant prices commissioner Barbara Macnish said that while today's metropolitanaverage had dropped to 100.9, one retailer was still selling at 107.9.
"What we are investigating is whether or not retailers and wholesalers are profiteeringout of the current situation," Ms Macnish said.
"International prices are used as a basis for setting Australian prices, and they havecertainly gone up in the last couple of months because of the tensions in the Middle Eastand the Venezuelan situation.
"What we're going to make sure that the margins are not increasing and that retailersand wholesalers don't take advantage by adding a little bit extra for themselves."
Independent retailers were offering the lowest prices, she said.
"It does beg the question if the independents can do it, why can't the oil majors."
"It says very strongly to the public that they should be be buying at the lower priceswhich will obviously support the independents and will put pressure on oil companies tokeep their prices down."
The lowest metropolitan price today was at a Liberty station in south-east suburbanLangford which was selling at 95.9.
AAP lk/gjr
KEYWORD: PETROL WA
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