ACCC having a ‘close look’ at Coles Petrol prices

The Australian Competition and Consumer Commission (ACCC) is having a close look at Coles petrol prices, on the back of its 4 cent per litre discount scheme.

There might be a case for the ACCC to investigate whether Coles increase its petrol prices by 2-3 cents per litre, which would prevent them losing from the customer discounts.

Nic Moulis, CEO of Gas Buddy petrol monitoring app, confirmed the most recent data of the major petrol outlets.

The results show the following averages for the month:

Coles $1.13 per litre

BP $1.11 per litre

Caltex/Woolworths $1.10 per litre

7/11 $1.09 per litre

Mr Moulis could not confirm that Coles does increase its prices to account for the 4 cent discount, but said across the board they are higher than their competitors.

‘If you look at that data, you’d say that Coles is currently pricing their fuel at a higher level than their other competitors,’ he told Tom Elliott.

Click PLAY to hear the discussion with Nic Moulis