The Federal Government has announced a series of measures aimed at ensuring Australians get a fair deal at the petrol pump, amid global uncertainty and sharp fluctuations in oil prices.

The Australian Competition and Consumer Commission (ACCC) will step up its monitoring of petrol prices, while tougher penalties and stronger oversight of the fuel sector are set to be introduced to curb misconduct and ensure stable fuel supply across the country.

The Albanese Government says the measures are designed to protect motorists from unfair pricing practices and ensure that international conflicts are not used as an excuse to increase profits at the expense of Australian consumers.

Under the proposed changes, penalties for false or misleading conduct and cartel behaviour across the economy will be doubled, reaching a maximum of $100 million per offence.

At the same time, the ACCC will ramp up its fuel price monitoring, providing weekly reporting with a focus on identifying unusual price spikes.

The government will also work closely with the fuel industry to increase supply to service stations, particularly in regional areas where shortages can cause significant disruption. This includes helping the sector obtain ACCC authorisation to coordinate supply and address bottlenecks in distribution.

The new measures come as global oil markets experience extreme volatility following the recent conflict in the Middle East.

In just a few days, global oil prices have swung dramatically — climbing close to US$120 per barrel, dropping to around US$80, and then rising again above US$90 within hours. At the start of the year, oil was trading at approximately US$60 per barrel.

While Australia cannot escape the ripple effects of global market fluctuations, the government says these actions will help ensure petrol companies operate responsibly and that consumers are not unfairly impacted by price shocks.

Despite the turbulence in global markets, authorities say Australia’s fuel supply remains stable.

Industry reports indicate that fuel shipments are continuing to arrive in Australia on time and in expected quantities. Current disruptions at some service stations are believed to be the result of localised spikes in demand, rather than any nationwide shortage.

The government has also activated several coordination mechanisms — including the National Coordination Mechanism, the Trusted Information Sharing Network, and the National Oil Supplies Emergency Committee — to respond quickly to emerging supply chain issues.

Ensuring reliable fuel access for regional communities and the agricultural sector is a key priority.

Authorities say strong cooperation between government and industry will be essential to maintain supply and keep Australia’s transport networks and food production moving smoothly.

The Albanese Labor Government has identified inflation, productivity and global economic uncertainty as its top economic priorities this year. Strengthening fuel supply chains and ensuring fair petrol prices form a central part of that broader strategy to support Australian households and businesses.

For more national news and analysis, read the latest edition of Indus Age.

  ACCC, Albanese Government, Australia Economy, Australian Motorists, Consumer Protection, Cost of Living Australia, Energy Market, Fuel Prices Australia, Fuel Sector, Fuel Supply, Oil Prices, Petrol Monitoring, Petrol Price Regulation., Petrol Prices, Regional Australia