1. Restrict the retail price of unleaded petrol in Queensland to no more than 12 cents/litre above the terminal gate price of unleaded petrol.
Why is this important?
1. The retail price of unleaded petrol in Queensland is consistently in excess of 20 cents/litre above the terminal gate price.
2. Compared with other states this is excessive with the retail price ranging from 8 cents/litre to 14 cents/litre in other states.
3. There is a market failure in pricing in Queensland and regulatory intervention is necessary to restore fairness and efficiency in retail pricing of petrol.
4. This would lead to a drop in petrol of at least 8 cents/litre in Queensland
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