The Australian Competition and Consumer Commission (ACCC) is urging fuel retailers down under to be honest with consumers or risk huge fines.
The independent statutory government agency says petrol and diesel price increases between February 20 and March 11, 2026 varied widely between Australian capital cities and in many cases rose at the same rate as wholesale prices.
The ACCC released its first weekly price update since the current Middle East conflict began, noting that benchmark petrol and diesel prices have risen more than international oil prices during this first phase of the conflict.
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Given that these international movements influence domestic wholesale prices, which in turn influence retail prices, the ACCC is raising the alarm about the behavior of fuel retailers.
The top consumer watchdog has warned that something is wrong and that it will take action if there is “misleading or deceptive behavior about the reasons for individual retailers’ sharp and rapid price increases or breaches of competition laws”.
It contacted petrol companies including Ampol, BP, Chevron, EG Australia, Mobil, 7 E-Eleven, United Petroleum and Viva Energy for urgent information about the recent price increases and, after considering their responses, said further clarification would be needed in a meeting with fuel market participants next week.
“Fuel companies should speak openly and honestly about the reasons for such widely varying and rapid increases across the country and treat their customers fairly,” ACCC Commissioner Anna Brakey said in a press release.
“We urge petrol retailers to explain their positions to the Australian community.
“The impact on average retail prices for petrol and diesel varies from city to city and average prices change daily. The market is extremely complex and volatile, which we know increases consumer concerns.”
“We know many consumers are struggling and frustrated by the rapid changes they have seen. We expect petrol retailers to explain to us and the Australian public how they arrived at their prices.”
The ACCC said average daily retail petrol prices rose with higher wholesale prices “almost on the same day”, rather than there being a lag.
“In this case, it appears that petrol retailers increased prices at the pump when they sold fuel they had purchased before the conflict at cheaper prices,” Ms Brakey said.
Perth recorded the biggest rise in average retail petrol prices between February 20 and March 11, at 59.5 cents per liter.
In the five largest cities, daily average retail prices were 219.7 cpl on March 11, an increase of 48.8 cpl since February 20.
You can view weekly fuel price monitoring updates on the ACCC website.
The ACCC has said it welcomes the Australian Government’s plans to increase the maximum fines for beaches under the Australian Consumer Law and the Competition and Consumer Act from $50 million to $100 million.
The ACCC is concerned not only about price increases, but also about the availability of petrol and diesel in some regional and rural areas.
To ensure supplies to regional areas, the federal government announced yesterday that it would temporarily lower fuel quality standards for the next 60 days, releasing about 100 million liters of new gasoline supplies each month.
The Government is prioritizing this supply to primary producers such as farmers and fishermen, as well as Australians living in regional areas.
MORE: Dirtier fuel is now allowed in Australia as prices rise at the pump
