The Australian Institute of Petroleum (AIP) and its member companies welcome the announcement by Ian Macfarlane, Minister for Industry, Tourism and Resources on 7 December to continue retail petrol market reform.
The Australian petrol 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 further 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 prescriptive regulations are removed and that all participants can compete effectively in the evolving retail petrol 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 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 petrol market to achieve the smooth implementation of the reform proposals.
AIP represents the Australian refiner/marketers as core members, BP Australia Limited, Caltex Australia Limited, Mobil Oil Australia Pty Ltd and The Shell Company of Australia Limited.
Dr John Tilley
Australian Institute of Petroleum Ltd
(02) 6247 3044