As unleaded fuel prices continue to climb, diesel prices have also hit record levels across South Australia, with motorists paying some of the highest pump prices in history.
The RAA says the statewide average for diesel reached $2.46 per litre yesterday morning, while locally prices have climbed this morning to around $2.57 in Victor Harbor, Murray Bridge and the Adelaide Hills. Unleaded fuel in Adelaide is also creeping closer to $2.30 per litre.
The surge comes after global prices spiked following the conflict in Iran. Adelaide’s wholesale diesel price has risen by about 47% since the conflict began, contributing to the record retail prices.
Motorists are responding, with the RAA reporting a 970% increase in suspected fuel pricing complaints through its app over the first three days of this week compared to the week before the conflict began. More than 300 motorists have used the app to flag potential breaches of South Australia’s real time fuel pricing laws, while access to real time pricing information through the app has jumped 400%.
RAA Principal Advisor Energy Peter Nattrass said the figures show drivers are holding fuel retailers accountable. “Motorists are taking back control and putting fuel retailers on notice,” he said. “We’ve seen a huge increase in engagement with the real time fuel pricing system, and people won’t be taken advantage of.”
The Federal Government has also stepped up, announcing tougher measures for fuel retailers. Oil companies and petrol outlets that use the Middle East conflict to price gouge motorists now face a maximum $100 million fine per offence for false or misleading conduct or cartel behaviour, doubling the previous penalty.
Treasury and Energy Ministers Jim Chalmers and Chris Bowen said the move is designed to protect consumers and ensure supply, particularly in regional areas.
The State Government, with RAA support, has also flagged that compliance and penalties for retailers who fail to follow the law would increase if re-elected.
Both the Federal and State governments, along with the RAA, are urging motorists not to panic buy fuel, saying the state has enough supplies to meet demand. “There is no reason to stockpile,” Mr Nattrass said. “Use the RAA app to find the cheapest outlet near you, fill up when you need it, but don’t panic buy.”
