The report provides a welcome contrast to the irrational and inaccurate views which are often put forward in the media by some commentators.
The ACCC accurately identifies international petroleum prices, currency exchange rates and taxes as the largest influences on the overall price of fuel in Australia, which is amongst the lowest in the developed world.
The report also recognises that downstream petroleum in Australia has relatively low profitability compared with other sectors and identifies a range of issues that will create significant challenges for the industry going forward.
This comprehensive report states in plain language that the petroleum industry in Australia is competitive and provides consumers with fuel prices which are low in world terms.
- ends -
Quotes can be attributed to Russell Caplan, Shell Chairman.
Media inquiries: Paul Zennaro, Senior Media Adsviser
Email: paul.zennaro@shell.com.
Shell media hotline: 0417 007 344
