Fed: Govt stands firm on rising petrol prices

AAP General News (Australia)
08-22-2000
Fed: Govt stands firm on rising petrol prices

CANBERRA, Aug 22 AAP - Climbing petrol prices were out of the government's hands, Treasurer
Peter Costello said today.

Mr Costello conceded there was widespread consumer concern about prices, but said increases
were due to rising world oil prices.

"The consumer is being hurt by the fact that petrol prices are rising, and I can tell
you, I don't like it," Mr Costello told Sydney radio 2UE.

"There's not much the Australian government can do about that other than make representations
to the producing countries involved.

"It is the world oil price that has moved that price up in the high 90s and in some
cases above a dollar."

Mr Costello also said the government was investigating claims of profiteering, where
petrol was discounted early in the week, and increased later.

"We've asked the Australian Competition and Consumer Commission to look at that," he said.

AAP jb/cd

KEYWORD: PETROL COSTELLO

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