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Speaker 1: But we do know that there has been a lot

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Speaker 1: of discussion, certainly in recent weeks and months about petrol

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Speaker 1: prices and the fuel excise ended late last month, with

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Speaker 1: many now keeping a very close eye on this situation

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Speaker 1: and bracing for those prices to go up. At this stage,

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Speaker 1: there has been a gradual but quite a slow increase

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Speaker 1: from some, but it's not been dramatic. Now joining me

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Speaker 1: on the line is Eden Bell from the aaent T.

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Speaker 1: Good morning to you, Eden, Good morning Kati, Thanks so

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Speaker 1: much for your time. Eden. From the aaentt's perspective, has

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Speaker 1: there been much change since that excise ended?

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Speaker 2: Well as we expected. The terminal gate price increased by

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Speaker 2: the twenty three cents or whatever it was, so we

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Speaker 2: saw a media effect at the TGP, but the market,

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Speaker 2: as you've just highlighted, is still sitting relatively stable. It's

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Speaker 2: just worth noting that with the exercise kicking in last

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Speaker 2: I believe it was.

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Speaker 3: The the margin between the difference between the terminal gate

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Speaker 3: price and the pump average.

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Speaker 2: At the moment it brought it back to about two cents,

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Speaker 2: So the margin between or the difference was taken up

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Speaker 2: with that increase of the t GP. So as it

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Speaker 2: currently sits. There's not a there's not a lot of

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Speaker 2: room between the GGB price and the actual pump price itself.

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Speaker 1: But yeah, I had wondered that, but I'd certainly notice

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Speaker 1: that as well. And what I was fascinated by because

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Speaker 1: I had sort of expected the bowser price to go

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Speaker 1: up pretty well immediately, hadn't really expected it to go

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Speaker 1: up at the terminal gate. So is that where we're

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Speaker 1: sort of saw that change when it came to the

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Speaker 1: fuel excise ending.

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Speaker 2: So the exercise is applicable at the point where the

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Speaker 2: truck leaves the terminal, so as it was at the

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Speaker 2: start when the exercise was caart Overnight, we saw that

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Speaker 2: ex as the TGP dropped within a day and so,

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Speaker 2: but it took about well at least there was an

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Speaker 2: extended period before the market reacted and at the end

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Speaker 2: of the day we would expect probably the return when

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Speaker 2: the excise kicked back in. So I don't, you know,

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Speaker 2: I didn't feel there was ever going to be an

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Speaker 2: immediate effect at the pump with the excise coming into

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Speaker 2: play or being reintroduced back last week. You know, there's

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Speaker 2: time for that fuel that needs to move through the

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Speaker 2: existing tanks and so we would have been concerned if

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Speaker 2: that was immediately passed on at the pump had that

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Speaker 2: been the case. But as it stands, you know, we're

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Speaker 2: sort of week past that date of the excise kicking

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Speaker 2: in and the market sitting relatively stable. What we don't

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Speaker 2: have any control over, unfortunately, is the international pricing. The

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Speaker 2: I see theres a slide up lift there, and that's

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Speaker 2: old were going to impact on the TGP and that

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Speaker 2: will have some flow on effect at some point. So

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Speaker 2: whilst we are anticipating in the medium term that we're

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Speaker 2: likely to see an increase that I don't think it's

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Speaker 2: going to be the shock twenty three sent overnight that

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Speaker 2: people were suggesting was going to occur.

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Speaker 1: Yeah, good, well, I think we'll all be pleased to

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Speaker 1: hear that.

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Speaker 3: Eden.

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Speaker 1: When are you well, what are you expecting to see?

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Speaker 1: I guess when it does come to those prices going up.

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Speaker 1: By the sounds of it, you know it is going

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Speaker 1: to happen at the bowser pretty soon.

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Speaker 2: Well inevitably we will. I mean, if one can only hope.

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Speaker 2: An ideal situation would be that the TGP continues to

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Speaker 2: fall and which wouldn't put that added pressure on retailers

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Speaker 2: to increase the price at the fuel bowser. But look

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Speaker 2: at I guess the clear message we've always put out

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Speaker 2: there is you need to shop around. I mean, no

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Speaker 2: single operator wants to see someone drive down or pass

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Speaker 2: them to the next operator and miss out on that sale.

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Speaker 2: So you know, it's a free and open market and

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Speaker 2: I highly encourage consumers to shop around. Today there is

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Speaker 2: still around about a six seven cent margin between actually no,

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Speaker 2: it's probably closer to nine cents between the highest and

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Speaker 2: lowest price, and so that warrants shopping to go and

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Speaker 2: get the best price. Yeah, I mean, it's clear cost

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Speaker 2: of living pressure as the top of mind for just

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Speaker 2: about every territory. And I'd say, don't support the operators

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Speaker 2: that are pushing prices high. Support the one that you're

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Speaker 2: going to get the best price on the day. And

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Speaker 2: you know, there's plenty of information available to consumers to

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Speaker 2: make an informed choice. And so you've got the mind

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Speaker 2: fuel app, and at just introduce its own app which

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Speaker 2: includes those same pricings to allow you to make a

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Speaker 2: better decision.

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Speaker 1: Even there, there certainly has been a lot of talk

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Speaker 1: recent weeks from well the CLP is planning on introducing

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Speaker 1: some legislation. The Opposition introducing some legislation to the Parliament

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Speaker 1: next week aimed at forcing those retailers to publish their

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Speaker 1: profit margins. I mean, do you think that something like

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Speaker 1: that would work.

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Speaker 2: What we support is for a free and open market.

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Speaker 2: It's not clear on whether that would be regulating the

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Speaker 2: market or not, but there's plenty of evidence to suggest

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Speaker 2: that a regulated market isn't the path to head down.

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Speaker 2: So what will that Transparency for consumers is absolutely key,

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Speaker 2: and that's that box has been ticked with the availability

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Speaker 2: of life pricing and for consumers to make that choice.

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Speaker 2: So and I don't know that necessarily the margin that

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Speaker 2: sits between the TGP as an average to the pump

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Speaker 2: price is not currently regulated. But what will drive that

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Speaker 2: down is competition and healthy competition. And so you know,

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Speaker 2: we're actually what we would push for and advocate for

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Speaker 2: is that focus on activities that are going to drive

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Speaker 2: that competition in the market to keep prices in check.

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Speaker 2: That's certainly got to be front of mind for everyone.

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Speaker 2: And consumers play, as I say, a vital role in

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Speaker 2: that path. So, I mean a good example is the

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Speaker 2: amount of red tape. I know one particular site where

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Speaker 2: they were trying to get down in our springs, trying

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Speaker 2: to get a service station up and running, which would

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Speaker 2: have introduced competition, but due to the level of red tape,

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Speaker 2: they withdrew from that pursuing that course. So there are

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Speaker 2: other avenues that need to be also considered to help

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Speaker 2: drive that competition and help keep prices down. But at

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Speaker 2: the end of the day, the price one thing is

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Speaker 2: to look at the variants that sits between the terminal

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Speaker 2: gate price and the pump. But as I say, what

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Speaker 2: we can't control is those Internet national influencing influencing the

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Speaker 2: TGP and of course the Aussie dollar and the strength

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Speaker 2: of the Aussie dollar will ultimately play a part in

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Speaker 2: that as well. So the strong message is get out

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Speaker 2: there and utilize the information available to you shop around

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Speaker 2: for the best deal. Well, I know that with mortgage

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Speaker 2: rate you look at, the take up of remortgaging is

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Speaker 2: probably at record high. People are conscious of the cost

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Speaker 2: of living pressure and are actively looking for a better deal.

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Speaker 2: I'd say the same should apply to feel don't be complacent,

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Speaker 2: utilize the office available to you and actively seek that

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Speaker 2: best price and support those retailers that are putting the

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Speaker 2: best price out there.

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Speaker 1: Well. Eden Bell from the aa NT I really appreciate

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Speaker 1: your time this morning. Thanks so much for chatting with us,

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Speaker 1: Absolute pleasure. Thank you,