Question:

What determines fuel prices in Australia?

by Guest1999  |  12 years, 8 month(s) ago

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My uncle is asking about the factors that fix the Australian fuel prices. Please provide answers ASAP.

 Tags: Australia, determines, Fuel, prices

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  1. Guest7097
    Like other products or services, it is ultimately the level of competition in the market that determines the price paid for fuel. In practice, when competition is operating effectively, what we see is that the price for fuel is close to the costs that a supplier incurs to supply the fuel plus a small profit margin.
    The price of fuel in Australia is mainly influenced by 3 broad components:
    • international benchmark prices
    • taxes
    • other costs and margins

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