The Australian Competition and Consumer Commission has issued a stern warning to fuel retailers to maintain transparency as Middle East conflicts trigger a sharp spike in international crude oil and refined petrol prices.
Commissioner Anna Brakey confirmed the watchdog has formally written to major fuel companies, outlining expectations for domestic pricing and reminding them that "false or misleading statements" regarding price hikes would breach Australian Consumer Law.
The ACCC's latest monitoring report reveals a complex landscape for Australian motorists. While annual average retail prices in 2025 were actually 8.7 cents per litre lower than in 2024, the December quarter saw a slight upward trend.
Across the five largest cities—Sydney, Melbourne, Brisbane, Adelaide, and Perth—average petrol prices rose by 1.6 cpl to reach 180.4 cpl.
The increase was largely attributed to higher retail costs and margins rather than international benchmarks, which had actually trended downward late last year due to high global inventories.
However, the relief was short-lived. Following a spike in early 2026 driven by developments in Iran and Venezuela, the current Middle East conflict has now caused international benchmarks like Mogas 95 and refined diesel to increase.
With diesel prices already rising by 4.1 cpl in the December quarter, the ACCC is urging motorists to use price-comparison apps to find the best deals.
Amidst this volatility, the report also noted a shift in the market: electric vehicle sales hit a record 17% share in December 2025.