Peter Costello (Higgins, Liberal Party, Treasurer) Share this | Hansard source

The second significant factor in petrol prices is the taxation regime. The reason why Australia has the third lowest petrol prices in the OECD is that we have the third lowest taxation regime in the OECD. Let me repeat, as I did yesterday: the ACCC, on a daily basis, monitor 3,500 retail sites across all the metropolitan capitals and 110 in country towns. When they find any evidence of price fixing, they bring proceedings, including in relation to Ballarat recently, where a case in respect of price fixing has gone to the full Federal Court and fines of $20 million were imposed. Petrol prices are of concern to Australian families, and they are of so much concern to Australian families that they will not be helped by stunts like the member for Hunter’s.

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