BP blocked from buying Australian petrol stations

BP PLC suffered a setback to its post-Deepwater Horizon recovery plans after the Australian government said it would block a $1 billion deal that would have made it the country’s dominant consumer-fuel retailer.

BP was planning to buy stations from Woolworths Ltd, which wants to exit the business to focus on its supermarkets

 

 

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Australia needs more competition in petrol retailing, grocery retailing, liquor retailing, newspapers, alcohol. ACCC has been asleep

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The only way to control petrol prices and create fair competition is to set the litre price each month and restrict the amount the litre price can rise to a maximum amount on a daily basis. Then it doesn’t matter who owns what.

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1 minute ago, Joanna said:

Australia needs more competition in petrol retailing, grocery retailing, liquor retailing, newspapers, alcohol. ACCC has been asleep

BP sold all its sites in Adelaide to on the run. Now it wants to buy all the Woolworths sites. WHY?

The price of fuel is highly manipulated, very little to do with the actual price of the product. And yes BP sites in general, especially OTR sites are the first to go up and the last to come down. The ACCC should look at that as well. 

$1.49 is way too expensive, just a few weeks ago it was nearer to $1.

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I have noticed that the BP branded "On The Run" stations are very quick to raise their prices and usually right at the top of prices. I refuse to use them & hope they go out of business asap. 

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“BP prices are significantly higher on average than Woolworths prices in the major capital cities (see charts below). BP generally increases prices faster than Woolworths during price increase phases, and is slower to discount during the price discounting phase of cycles,” Rod Sims, chairman of the Australian Competition and Consumer Commission, said

 

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1 minute ago, Meanwhile said:

“BP prices are significantly higher on average than Woolworths prices in the major capital cities (see charts below). BP generally increases prices faster than Woolworths during price increase phases, and is slower to discount during the price discounting phase of cycles,” Rod Sims, chairman of the Australian Competition and Consumer Commission, said

 

That would have to be a first from ACCC

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Caltex Australia Ltd, a leading supplier of fuel in Australia, will likely gain from the ACCC verdict. Per the source, Caltex was about to sacrifice its contract with Woolworth for supplying fuel. 

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