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Pass legislation to require fuel companies to reduce pump prices within 24 hours

Submitted by Neil D'Silva on Saturday 25th April 2020

Published on Tuesday 7th July 2020

Current status: Closed

Closed: Thursday 7th January 2021

Signatures: 141

Relevant Departments

Tagged with

24 hours ~ Government ~ It ~ Price ~ pumps ~ The Government ~ weeks

Petition Action

Pass legislation to require fuel companies to reduce pump prices within 24 hours

Petition Details

I want the Government to pass legislation forcing fuel companies to reduce pump prices within 24 hours when the price of crude oil falls.

Fuel companies are swift at increasing prices when the price of crude increases, but very slow in passing price reductions on to road users.

Additional Information

When crude oil prices increase, pump prices can increase within hours. When crude oil prices drop, it can take weeks for the price drop to reach the pumps.

Currently, the price of crude oil has dropped significantly in recent weeks, and yet petrol/diesel prices haven't changed very much and, normally, price reductions have been very slow in reaching the pumps.

Fuel companies should be made to reduce pump prices within 24 hours of a drop in crude oil price, and the drop should be fair and pro-rata.


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18.207.108.182 Thu, 21 Jan 2021 05:03:09 +0000