The Australian Institute of Petroleum (AIP) and its member companies welcome the introduction of legislation into the Australian Parliament by Ian Macfarlane, Minister for Industry, Tourism and Resources to implement retail petroleum market reform.
The Australian petroleum market will continue to see ongoing changes driven by competition at all levels of the market. These changes have brought many benefits to the Australian community and it is important to build on these benefits through the proposed regulatory reform of the retail market.
The repeal of the Petroleum Marketing Retail Sites Act 1980 and the Petroleum Marketing Retail Franchising Act 1980 is essential to ensure that costly and overly prescriptive regulations are removed and that all participants can compete effectively in the evolving retail petroleum market.
These Acts will be replaced by a mandatory Oilcode under the Trade Practices Act 1974. The Oilcode provides for a national terminal gate pricing regime, requirements for new fuel re-selling agreements including protection of the interests of franchisees and commission agents, and a mechanism for the resolution of disputes.
In agreeing to the current Oilcode package, AIP and its member companies demonstrate the industry's ongoing commitment to transparency and fair dealing.
AIP looks forward to working with the Minister and all participants in the retail petroleum market to achieve the smooth implementation of these reforms.
AIP represents the four Australian refiner/marketers as core members - BP Australia Pty Ltd, Caltex Australia Limited, Mobil Oil Australia Pty Ltd and The Shell Company of Australia Limited.