'It is appalling. There is no other way to put it' - Petrol gouging in Australia jolts prices $40c a litre higher in less than two years

June 6, 2018
This week we discuss the regional fuel tax, which combined with the National fuel tax will see Aucklanders paying 20 cents more a litre for petrol.

The head of Australia's consumer watchdog is appalled motorists are increasingly "financing the extravagance" of oil-rich nations such as the United Arab Emirates.

Australian Competition and Consumer Commission chairman Rod Sims said gouging by a "cartel" of 14 oil-rich nations was the number one factor in the height of petrol prices.

"I can well-understand why Australian motorists resent this and I think they should," he told News Corp today.

"It is appalling. There is no other way to put it."

The Organisation of the Petroleum Exporting Countries comprises 14 member nations including Iran, Iraq, Kuwait, Saudi Arabia, Venezuela, Qatar and the UAE.

 Since OPEC countries orchestrated an oil supply cut in 2016, the cost of a litre of unleaded petrol has risen by more than a third - from $1.14 to $1.53 - adding $27 to the price of filling a family car.

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