Competition and Consumer (Price Monitoring—Petroleum Fuels) Direction 2025

Contents

Part 1 · Preliminary

1Name#

This instrument is the Competition and Consumer (Price Monitoring—Petroleum Fuels) Direction 2025.

3Authority#

This instrument is made under the Competition and Consumer Act 2010.

5Definitions#

Note: Expressions have the same meaning in this instrument as in the Competition and Consumer Act 2010 as in force from time to time—see paragraph 13(1)(b) of the Legislation Act 2003.

In this instrument:

ANZSIC means the Australian and New Zealand Standard Industrial Classification 2006 (1292.0), published by the Australian Bureau of Statistics, as in force on the day this instrument commences.

Note: The Australian and New Zealand Standard Industrial Classification 2006 could in 2025 be viewed on the Australian Bureau of Statistics website (https://www.abs.gov.au).

bulk petroleum storage sub-industry means so much of the following as relates to bulk petroleum storage services:

(a)the other warehousing and storage services industry;

(b)the port and water transport terminal operations industry.

exempt supply has the same meaning as in Part VIIA of the Act.

fuel retailing industry means the class of fuel retailing (class 4000) as classified in ANZSIC.

goods has the same meaning as in Part VIIA of the Act.

other warehousing and storage services industry means the class of other warehousing and storage services (class 5309) as classified in ANZSIC.

petroleum fuel manufacturing industry means the class of petroleum refining and petroleum fuel manufacturing (class 1701) as classified in ANZSIC.

petroleum product wholesaling industry means the class of petroleum product wholesaling (class 3321) as classified in ANZSIC.

port and water transport terminal operations industry means the class of port and water transport terminal operations (class 5212) as classified in ANZSIC.

price has the same meaning as in Part VIIA of the Act.

quarter means a period of 3 months ending on 31 March, 30 June, 30 September or 31 December.

services has the same meaning as in Part VIIA of the Act.

State or Territory authority has the same meaning as in Part VIIA of the Act.

supply has the same meaning as in Part VIIA of the Act.

the Act means the Competition and Consumer Act 2010.

Part 2 · Price monitoring of petroleum fuels

6Object#

The object of this instrument is to:

(aa)promote transparency in the market for petroleum products in Australia, in particular during periods of significant disruption; and

(a)continue the Commission’s monitoring of the prices, costs and profits relating to the supply of petroleum products in Australia for a further period of 5 years; and

(b)direct the Commission to prepare reports in relation to the monitoring at least once every quarter.

Note: The Competition and Consumer (Price Monitoring—Petroleum Fuels) Direction 2022 directed the Commission to prepare quarterly reports in relation to its monitoring of the prices, costs and profits relating to the supply of petroleum products in Australia for a period of 3 years commencing on 1 January 2023.

7Commission to monitor prices#

(1)Under subsection 95ZE(1) of the Act, the Commission is directed:

(a)to monitor prices, costs and profits relating to the supply of goods and services in each of the following:

(i)the fuel retailing industry;

(ii)the petroleum product wholesaling industry;

(iii)the petroleum fuel manufacturing industry;

(iv)the bulk petroleum storage sub-industry; and

(b)to give the Treasurer a report on the monitoring at least once every quarter during the period of 5 years beginning on 1 January 2026.

Note: Under subsections 95ZE(2) and (3) of the Act, the Commission must, in preparing such a report, have regard to the need for commercial confidentiality and must make copies of the report available for public inspection as soon as practicable after it gives the Treasurer the report.

Special reports

(1A)Under subsection 95ZE(1) of the Act, the Commission is also directed, during the period covered by subsection (1B):

(a)to monitor, in relation to the supply of goods and services mentioned in subparagraphs (1)(a)(i) to (iii), both in relation to each of the capital cities as well as other areas, all of the following:

(i)the matters mentioned in paragraph (1)(a);

(ii)unusual or discrepant movement of prices as a result of current market conditions; and

(b)to give the Treasurer a report on the monitoring at least each week.

(1B)This subsection covers the period beginning on its commencement and ending on 31 March 2027.

Exclusions

(2)However, this section does not apply in relation to:

(a)an exempt supply; or

(b)the supply of a good or service by a State or Territory authority.

8Direction to give special consideration to specified matters#

Under subsection 95ZH(1) of the Act, the Commission is directed to give special consideration, in exercising its powers and performing its functions under Part VIIA of the Act, to:

(a)sections 6 and 7 of this instrument; and

(b)monitoring the prices, costs and profits relating to the supply of:

(i)petroleum fuel products; and

(ii)services related to the supply of petroleum fuel products.

Sourced from the Federal Register of Legislation at legislation.gov.au, © Commonwealth of Australia, licensed under CC BY 4.0. Compilations may have been reformatted.