ACCC Cracks Down on Fuel Pricing: What the Emergency Meetings Mean for You
The ACCC held emergency meetings with fuel companies over rapid price spikes in March 2026. Here's what they found, what they're doing about it, and what it means for drivers.
Australian fuel prices have surged since late February 2026, and the competition watchdog has noticed. The ACCC held emergency meetings with major fuel companies in Sydney and Melbourne, demanded explanations for rapid price increases, and flagged some pricing behaviour it considers deeply concerning.
Here's a timeline of what's happened, what the ACCC found, and what it means for you at the bowser.
The timeline
6 March — ACCC puts fuel companies on notice
The ACCC published its December quarter 2025 report alongside a pointed warning to fuel retailers. The quarter itself was unremarkable — average retail petrol across the five largest cities was 180.4 cents per litre, up just 1.6c/L from the previous quarter.
But it was what happened after the quarter that prompted the warning. Crude oil prices had spiked following the escalation of Middle East conflict in late February, and pump prices were already climbing fast.
Commissioner Anna Brakey warned: "We remind retailers that making false or misleading statements to consumers about price increases would breach the Australian Consumer Law."
The same day, the ACCC sent letters directly to major fuel retailers demanding explanations for their pricing behaviour.
11 March — Emergency meetings called
Five days later, with prices still climbing, the ACCC escalated. Commissioner Brakey announced emergency meetings with fuel market participants and didn't mince words:
"The petrol industry should be under no illusions. We will act decisively."
The ACCC also announced:
- Weekly market updates to increase transparency around wholesale and retail pricing
- An investigation into diesel distribution issues in regional and rural Australia
- The government's plan to double maximum penalties for fuel company breaches from $50 million to $100 million
This came just weeks after the Federal Court ordered Mobil Oil Australia to pay $16 million for misleading fuel representations at nine Queensland stations — a reminder that the ACCC does follow through.
13 March — The numbers that raised eyebrows
The ACCC released data showing just how sharply prices had moved between 20 February and 11 March:
| City | Petrol price increase |
|---|---|
| Perth | 59.5 c/L |
| Sydney | 48.8 c/L |
| Five-city average | to 219.7 c/L |
Sydney diesel jumped 67.8 cents per litre in the same period. Some locations saw pump prices rise up to 18 cents per litre more than the underlying wholesale price increase.
But the most damning finding was about timing. Normally, there's a 7–14 day lag between wholesale price changes and pump price changes. During this crisis, some retailers raised pump prices on the same day as wholesale spikes — meaning they were selling fuel they'd already bought at the old, lower price, but charging customers the new, higher price.
The ACCC called in 7-Eleven, Ampol, bp, Chevron, Mobil, United Petroleum, Viva Energy, and EG Australia to explain.
17 March — Emergency meetings held
The ACCC convened emergency meetings in Sydney and Melbourne with senior representatives from major fuel companies, wholesalers, retailers, and motoring organisations.
ACCC Chair Gina Cass-Gottlieb warned against "collusive, anti-competitive or misleading" conduct and stated: "If we find there is conduct that is collusive...we will investigate it and take action."
Key outcomes:
- Companies were questioned about why retail prices increased faster than international crude oil and benchmark movements
- Consumer reports detailing the impact on households and businesses were shared directly with fuel companies
- Weekly monitoring expanded to cover 190 regional locations (up from capital cities only)
- The ACCC flagged its readiness to use authorisation powers for emergency fuel distribution if regional supply issues worsen
What this actually means for drivers
The ACCC can't set fuel prices — that's not how it works. But it can (and does) investigate and prosecute companies that engage in misleading conduct, price collusion, or anti-competitive behaviour. The $16 million Mobil penalty shows this isn't an empty threat.
What the ACCC's actions tell us:
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Prices rose faster than they should have. The ACCC's own data shows retail prices jumped ahead of wholesale costs in some cases. That gap is money out of drivers' pockets.
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The scrutiny is real. Emergency meetings with the chair present, letters demanding explanations, expanded monitoring to 190 locations, and the threat of doubled penalties ($100M) — this is the ACCC's strongest fuel market intervention in years.
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Regional drivers are being watched out for. The focus on regional supply and distribution issues, plus the expanded monitoring locations, suggests the ACCC recognises that rural and regional Australians are hit hardest by price spikes and supply disruptions.
What you can do right now
You can't control global oil prices or retailer behaviour, but you can make sure you're not paying more than you need to:
- Compare prices before you fill up. During volatile periods, the gap between the cheapest and most expensive station in the same suburb can blow out to 30c/L or more. Finding the cheaper option on a 50L tank saves you $15.
- Use loyalty discounts. The 4c/L from Everyday Rewards or Flybuys is a guaranteed saving regardless of what the market does.
- Don't panic-buy. Australia has weeks of fuel supply in reserve. Rushing to fill up creates artificial shortages and pushes prices higher.
- Understand the cycle. Even during a global crisis, the regular price cycle still operates in most cities. Filling up at the bottom instead of the top can save 15–20c/L.
For a deeper explanation of how Middle East events reach Australian bowsers, see our full explainer on the conflict and fuel prices.