28
Jul

Fuel outlets will have to report price changes within 30 minutes under South Australian first real-time fuel pricing system

Motorists searching for cheaper fuel may not have to wait much longer with state parliament passing long-awaited real-time fuel pricing legislation.

The legislation requires all fuel retailers to provide the State Government with the price they are charging for petrol, diesel and LPG, which can then be shared with the public online.

Retailers will have to disclose their fuel prices to a central database within 30 minutes of prices changing, or risk fines of up to $10,000.

The RAA, which has been campaigning for a government-backed fuel watch scheme, predicts it will lead to more competition and cheaper prices.

SA Attorney-General Vickie Chapman said the government would “move quickly” to secure a company to operate the fuel database.

“It is my aim to have this database up and running for spring…,” Ms Chapman said.

She said the legislation was a “real win” for motorists in helping to drive down the cost of living.

The SA system will be the same as that currently operating in Queensland which allows existing fuel watch app companies to access the pricing data.

RAA fuel expert Mark Borlace said motorists would welcome the introduction of real-time fuel pricing because it would give them the information they need to find the cheapest prices.

“RAA research shows Adelaide has the greatest variation in petrol prices of any state capital, and that’s why RAA has been calling for this legislation,’’ he said.

“Petrol prices can spike by up to 40c/l – adding an extra $24 to the cost of filling the tank of a typical family sedan.

“That’s why it is so important that motorists have this money saving tool to track the movement of fuel prices and buy at the cheapest outlets.’’

The fuel price information will be available to existing fuel watch app companies.

Extracted from Adelaide Now