Costco fuel outlet now reports prices to FuelWatch
The Costco fuel outlet at Perth Airport will now be required to report its prices to FuelWatch when new regulations come into effect tomorrow.
Previously, the member-based fuel retailer was exempt as the Petroleum Products Pricing Act 1983 (WA) did not cover fuel sales when there is an existing agreement between the customer and the fuel retailer. The law has been changed so Costco cannot claim this exemption and is now required to participate in the FuelWatch scheme.
FuelWatch requires retailers to notify their fuel prices for the following day by 2pm which will be fixed for 24 hours from 6am. The prices are made public via the FuelWatch website and email alerts sent to subscribers.
Commissioner for Consumer Protection Penny Lipscombe said it now creates a level playing field between Costco and its competitors.
“It was unfair for Costco to operate outside the FuelWatch system while nearby competitors were compelled to do so,” Ms Lipscombe said.
“There is an advantage for consumers who can now see on the FuelWatch website what price Costco is offering and be able to compare it with other local retailers. There is also certainty in that Costco will be required to hold that price for a 24 hour period.”
Media Contact: Alan Hynd, (08) 6552 9248 / 0429 078 791 / email@example.com
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