Today the committee inquiring into fuel prices in the ACT handed down its final report, with five unanimously agreed recommendations:
We have been mindful throughout this inquiry that at no point did we want to risk recommending a measure which may potentially result in higher fuel prices for ACT consumers.
A number of suggested options put to us carried the risk of higher fuel prices for Canberrans, and the Committee has remained concerned about the difficult in forecasting the impact of different options. For this reason, we have been deliberately cautious in our approach.
The way fuel prices are determined is largely outside the ACT Government's control. However, where the Committee believes the ACT Government can review its approach or make changes without risking a poorer result for consumers, we have recommended this.
Overall, the theme of the Committee’s recommendations is one of creating both greater competition and transparency, with a view to arming consumers with better choice and information in making fuel purchasing decisions.
The implementation of these recommendations, combined with consumers taking the next step in making behavioural changes, is what we believe will result in the greatest opportunity, and the greatest chance, of ACT consumers ultimately paying fairer fuel prices.