Shell this week increased prices by an average 8c a litre. The other oil giants have followed Shell's lead and will now sell petrol at up to 10c more than the average price charged by independents such as Gull, Liberty and Peak. The average price for unleaded fuel from Shell service stations is 94.6c per litre
The independents, led by Liberty and Gull, are leading the charge for cheaper fuel and will be selling unleaded fuel for 84.9c per litre. WA Prices Commissioner, Mr Patrick Walker, lambasted the latest petrol price hikes. "All the majors operate what they say is a price discount cycle. I think a better name for it is a profit cycle," he said.
Unperturbed, the Australian Institute of Petroleum executive director, Mr Bryan Nye, responded to the criticism by saying Mr Walker was "grandstanding" and that the price cycles brought cheaper fuel in the long run.
