The Federal government has decided to formalise a national approach to petrol price monitoring. Beginning by December, 2008, the FuelWatch scheme will see petrol stations in regional and metropolitan areas forced to publish prices 24 hours in advance.
The aim is to provide greater choice for motorists. There is no conclusive evidence prices are lowered by such a system.
"What FuelWatch will do is give motorists much greater power," ACCC chairman Graeme Samuel told ABC Radio on Wednesday.
"They'll know when the price is going to increase. They'll also know when they're going to decrease and they can therefore defer their buying until they (fuel prices) get to their lowest points."
How to track prices now
NSW has now come into line with WA and VIC in offering a petrol price-watch scheme providing daily updates on average process in the capital city and surrounds.
Sydney Petrol watch – thanks to NRMA
- Sydney averages
- Sydney in detail suburbs with the best prices
- NSW averages – covers major cities and towns
Melbourne Fuel watch – thanks to RACV
- City and surrounds averages and trends
Perth Fuelwatch – thanks to WA Government
- All averages search by region, type or brand
More info
Search ‘petrol’ on Yahoo!7 NEWS
15 hour window to buy petrol: ACCC - Y7 NEWS (16 April)
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