LIMESTONE Coast motorists could soon have access to real-time petrol pricing across the region to help find the cheapest fuel.
The South Australian Government has announced it will introduce legislation for a two-year trial of a real-time pricing model to ultimately help consumers save money at the bowser.
It follows an extensive review undertaken by the South Australian Productivity Commission into the issue which assessed models in other Australian jurisdictions to find a suitable solution for the state.
Under the trial, petrol stations will be required to report any price changes to a centralised database.
Once legislated, the government would engage a data aggregator to make collected information available for free to private app developers – a model implemented successfully in Queensland – with consumers then able to access data through their chosen app.
“There has been conflicting evidence around the benefits that real-time price monitoring can deliver,” Attorney-General Vickie Chapman said.
“That’s why it was important for the Productivity Commission to review all the available evidence, consider the approach undertaken by other states and report back on what we can do that would deliver the best benefits for South Australian motorists.
The Productivity Commission found both options in place around Australia – either the Western Australian model where prices are frozen for 24 hours, or in other jurisdictions where outlets must report any pricing changes – benefited motorists.
However, the WA model could result in greater compliance costs for fuel retailers.
RAA fuel expert Mark Borlace welcomed the government plan, stating it would give motorists the information they need to find the cheapest prices available to save money.
“The national consumer watchdog, the ACCC, also found real time fuel pricing could save SA motorists tens of millions of dollars a year, which is why RAA has lobbied hard for it.”
