they gov. understand nothings and has no clue about the trading in Oil at all !!! What a waist of taxpayers money. Unreal !
Its a cat and mouse game for 1c !!! ridicolous !!!
15-hour notice to buy petrol: ACCC16/04/2008 11:04AM AEST Motorists would get at least 15 hours notice to buy petrol before prices increased under a government fuel monitoring scheme, Australia's consumer watchdog says.
The FuelWatch scheme, announced on Tuesday by the federal government, would give motorists more power, the Australian Competition and Consumer Commission (ACCC) says.
The ACCC will operate the scheme, which is expected to start by the end of the year and will give consumers information about the next day's petrol prices via text messages, email or website.
"What FuelWatch will do is give motorists much greater power," ACCC chairman Graeme Samuel told ABC Radio on Wednesday.
"They'll know when the price is going to increase. They'll also know when they're going to decrease and they can therefore defer their buying until they (fuel prices) get to their lowest points."
Mr Samuel said every petrol station that was part of the scheme would be required to lodge with the ACCC their proposed fuel price for the following day.
The ACCC would then publish those prices within one hour of the information being lodged, he said.
The price would apply from 6am the following day for 24 hours.
