Kevin Rudd (Griffith, Australian Labor Party, Prime Minister) Share this | Hansard source

I find it interesting, again, to see the mock outrage from those opposite, from whom we saw such action, such commitment and such passion on how to enhance the powers of the competition regulator in this space. The member for Higgins knows precisely what I am talking about, since this week he has emerged from his laptop. That is, he had 11½ years to give proper powers to the competition policy regulator to conduct proper investigatory arrangements when it came to the petroleum industry and failed to do so—until Labor in opposition indicated that we were about to appoint a petrol commissioner. Then, hold the phone, suddenly we had a plethora of activity on the part of those opposite; 11½ years of inaction, inertia, nothing, then—six months before an election—whoops, we have the alternative government recommending the establishment of a petrol price commissioner. Then, hold the phone, the member for Higgins says, ‘I’ve suddenly got an interest in the area.’

This government has announced the appointment of a petrol commissioner to oversee the monitoring of fuel prices and report annually. We have nominated Pat Walker to fill this role. The petrol commissioner will be responsible for overseeing the ACCC’s monitoring of fuel prices in Australia, including LPG and diesel. He will also provide an annual report on the ACCC’s findings. The ACCC’s recent inquiry into the price of unleaded petrol raised several matters that the petrol commissioner will be reviewing as part of his role, including, firstly, a detailed examination and ongoing monitoring of biocell arrangements; secondly, an audit of terminals suitable for importing refined petrol into Australia, covering terminal capacity, use and leasing and sharing arrangements; and, thirdly, ongoing monitoring of the use, leasing and sharing of terminals suitable for importing refined petrol into Australia. These are all factors which will have an effect on competition in the retail petrol sector and on prices at the pump.

The government has also directed the ACCC to monitor the prices, costs and profits relating to the supply of unleaded petrol products in the petroleum industry, including imports, refining, wholesaling and retailing. The government is actively considering all of the ACCC’s recommendations, including options to increase retail price transparency. Once we have worked through those options exhaustively we will have more to say.

I can say, on behalf of the government, that in three months we have acted on these matters. After 12 years, from the party opposite, we had nothing more than a litany of inaction and lack of interest. And, added to the other cost-of-living pressures on working families, we had a party opposite which had simply lost touch with the interests of working families.

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