Reid puts big oil companies on notice

Member for Robertson Gordon Reid speaking in Federal Parliament

Member for Robertson Gordon Reid has put the big oil companies operating on the Central Coast on notice during a speech in the Federal House of Representatives.

Reid is continuing his campaign for more equitable petrol prices on the Central Coast in general, and the Woy Woy Peninsula in particular.

“I am committed to continuing to shine a light on the price of fuel on the Central Coast,” he said.

“I am also concerned about the variation in prices across the Central Coast, where fuel sold in Wyong can be 20-30 cents cheaper than fuel sold at Umina Beach.

“My speech in the House of Representatives was about calling out this issue and putting on notice the big oil companies for letting this happen.

“Motorists on the Central Coast should not have to travel to Wyong to buy cheap fuel.

“I have written directly to every oil company with service stations in the region and have asked them to explain why our region experiences higher fuel prices.

“To date, only two have responded and have blamed international events for causing higher fuel prices.

“I will continue to apply pressure on the big oil companies until our region is treated fairly and with respect.”

In his speech, Reid reminded fellow MPs that addressing cost-of-living pressures was the Government’s top priority.

After outlining cost-of-living savings delivered by the Government, including cheaper childcare, bulk-billed Medicare urgent care clinics, fee-free TAFE positions, cheaper medicines and tax cuts, he said another significant cost-of-living pressure affecting families living on the Central Coast was the price of fuel.

“I continue to be a staunch critic of those big companies who operate on the Central Coast,” he said.

“Many are charging motorists in the region more for fuel than those in places further away such as Coffs Harbour or Dubbo.

“These places are hundreds of kilometres further away from shipping ports than the Central Coast is.

“However – and here’s the part that doesn’t make sense to me – our service stations sell this fuel for 20 to 30 cents more per litre compared with these places.

“Further to this, the discrepancy between fuel prices sold at any of the Central Coast service stations can vary substantially.

“Why is this the case?

“I’ve written directly to the Australian Competition and Consumer Commission to investigate this situation, and I received a very underwhelming response.

“In its response, the ACCC provided a bureaucratic explanation for why fuel on the Central Coast is routinely more expensive than in harder-to-reach places and why prices vary inside the region.

“They also mentioned the Central Coast is susceptible to fuel price cycles influenced by the Sydney market.

“If this were the case, why are oil companies selling fuel cheaper in Sydney than in places on the Central Coast?

“The answers to our queries have not been making any sense to me, and they certainly have not been making any sense to the motorists and my constituents living on the Central Coast.

“Consequently, I’ve written to every major oil company operating on the Central Coast and requested an explanation.

“To date, only two companies have responded.

“In both responses, the companies have indicated that market forces are responsible for fuel prices on the Central Coast as well as international factors like the war between Ukraine and Russia and growing instability in the Middle East.

“But why is the Central Coast bearing the brunt of these factors?

“Why aren’t other regions?

“Why is Sydney escaping the pressures that these events are having on our fuel prices?

“These responses provided by the big oil companies leave my communities with more questions than they have answers to their concerns.

“I’m putting the big oil companies operating on the Central Coast on notice; stop these nebulous responses and stop leaving our people behind.

“Sell your fuel on the Central Coast in line with other regions.

“I will continue to hold these big oil companies to account.”