Caltex, Mobil, BP lead rises

The Australian Competition and Consumer Commission report analysing unleaded fuel prices identified the three oil companies as frequently raising prices before their competitors this year.

In contrast, Woolworths, 7-Eleven and independent stations, including United, are usually the first to drop prices during the discounting phase of the weekly price cycle, which is typically at its lowest point on Wednesdays.

Petrol commissioner Joe Dimasi said yesterday information websites that allowed the "high-visibility" retailers to see competitors' prices quickly could put consumers at risk of paying more in the longer term.

The report, which examined the price of unleaded petrol during this year and last year, also found that unleaded petrol prices closely followed the key international benchmark price of Singapore Mogas 95.

Singapore prices have risen 23 cents a litre this year and unleaded fuel has increased 21 cents.

The report showed that the strong Australian dollar had kept fuel prices down.

It said that if the dollar had stayed at the levels of early March, petrol price rises could have been about 28 cents a litre or more.

Breaking down the component price of unleaded fuel, the report found that about 90 per cent of what consumers paid was for the refined product and taxes.

It also revealed that the petrol sector had a $480 million loss this year, with profit margins usually sitting between two cents and six cents a litre (the total for refining, wholesaling and retailing).

It found that last financial year was the most volatile on record for petrol prices, but said after February prices started to move within a more stable narrow range.