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No discount at Christmas fuels anger
Dec 27, 2007 MAJOR petrol suppliers have lined their pockets over Christmas, gouging an extra $3.5 million from motorists in just two days this week. Market analysts say Caltex, Shell and their supermarket partners Woolworths and Coles, as well as Mobil and BP, made an extra 3c a litre on Monday and Tuesday by abandoning the usual weekly "discount" cycle. The ploy added an extra $3.5 million to the oil industry in two days, based on the 55 million litres of unleaded petrol sold every day. Having hit $1.42 a litre, unleaded nudged a low of $1.33 a litre last week. On Tuesday this week, the price cycle fell to a low of just $1.37. FuelTrac analyst Geoff Trotter said the oil giants had raked in the rewards over Christmas. "They just haven't discounted anything like they normally do at the bottom of the weekly price cycle," he said. The consumer watchdog has demanded an explanation from petrol executives but Mr Trotter said ACCC chairman Graeme Samuel was hamstrung. "The ACCC doesn't have any formal powers. Graeme Samuel can jump up and down as much as he likes but he hasn't got any power to do anything," he said. The latest petrol rip-off emerged as the State Government admitted prices could be cut by 5c a litre if storage tanks were installed in Sydney to hold cheaper fuel. New South Wales Ports Minister Joe Tripodi said a $69 million redevelopment of Port Botany would include storage tanks. "Greater volumes and more competition will reduce the ability of fuel importers to lift prices at opportune times like Christmas and public holidays," he said. Construction of the factory-size berth is expected to start by mid next year, with cheaper fuel prices expected to flow shortly afterwards. Motorist groups have welcomed the Government's plan - but demanded that politicians make it a reality. "This will allow them to buy fuel substantially cheaper, which could result in 4c or 5c a litre saving for motorists," NRMA president Alan Evans said. "This could be one of the key factors in delivering the fairer prices motorists deserve." But while politicians throw around promises, families like the Kerrs pay top dollar. Justin Kerr, his wife Brooke and their two children will begin the long drive home to Cairns today after visiting family. The 5000km journey will cost them hundreds of dollars in fuel. "If the price in Sydney drops 5c then the supermarket dockets take off another 5c, then we are talking about prices we haven't seen for years," Mr Kerr said. "We could have saved up to $50 on this trip, and that would have meant another activity for the kids, or for couples without children, a night out." [archive] Featured
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