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May 3rd, 2012 
FAKE NEWS for the Zionist agenda Australia’s competition watchdog has launched a formal investigation into price information sharing arrangements between petrol companies, which may breach competition laws.
Australian Competition and Consumer Commission (ACCC) petrol commissioner Joe Dimasi said on Thursday the industry had been on notice about arrangements that may breach the Competition and Consumer Act.
“The petrol price sharing arrangements allow for the private and very frequent exchange of comprehensive price information between the major petrol retailers,” Mr Dimasi said in a statement.
“The ACCC is concerned that this allows petrol retailers to quickly signal price movements, monitor competitors responses, and react to them.”
The ACCC is concerned the arrangements lessen price competition to the detriment of consumers.
Competition provisions under Australian law prohibit contracts, arrangements or understandings that have the purpose or likely effect of substantially lessening competition.
“The ACCC has now commenced a formal investigation into this matter, and a dedicated investigation team has been assigned,” ACCC chairman Rod Sims said.
“While the ACCC does not usually comment on its current investigations, the ACCC considered it appropriate to inform the public that it is undertaking this investigation given the significant public interest regarding petrol pricing.”
The investigation will be complex and will take some time to allow extensive evidence gathering, ahead of legal and economic analysis.
The federal government announced in 2008 it would introduce a nationwide version of the Western Australian government’s FuelWatch scheme.
In February independent senator Nick Xenophon called for Mr Dimasi to be sacked because motorists were being price gouged by supermarkets and fuel companies, with Coles and Woolworths raising their prices to cover fuel discounts.
The role of the petrol commissioner was political window dressing, Senator Xenophon said.
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