Australia’s consumer watchdog has summoned major fuel suppliers to emergency talks as the petrol crisis worsens, promising to take action against any sign of collusion, misleading behavior or other misconduct.
As it urges them to explain why fuel prices have risen so steeply as a Middle East conflict rages on.
Australia’s competition regulator, the Australian Competition Consumer Commission, said that an emergency meeting was held on 17 March 2026 in Sydney and Melbourne as fuel prices have risen rapidly, affecting households, farmers as well as other industries.
Senior executives of major fuel suppliers, including fuel companies, wholesalers as well as retailers have been asked to explain why fuel prices have risen so steeply, including why fuel prices appeared to rise more quickly than expected in response to rises in crude oil and refined fuel prices.
Consumer groups also took part in this emergency meeting, which focused on regional supply issues as independent distributors in rural areas are considered to be a part of the solution to this crisis.
Gina Cass Gottlieb, chair of the ACCC stated that the regulator would carefully examine the crucial data it had received regarding supply chains and global price volatility.
The industry should have “no illusions” about enforcement, since the watchdog has already increased market scrutiny, demanded responses from retailers, and prepared weekly updates on pricing behavior.
Additionally, the commission has indicated that it is prepared to approve distribution coordination if it facilitates the more efficient delivery of fuel to underserved communities.
The Federal Government also temporarily relaxed fuel quality standards for 60 days to allow an additional 100 million liters a month to be injected into the market through redirected Ampol supply for shortage areas and the wholesale market.
However, relief is not likely to be immediate. This is because officials have indicated that the additional fuel will take time to be distributed through the supply chain.
Moreover, the situation is compounded by panic buying.
