Sydney petrol retailers accused of price gouging

Press/Media: Expert Comment

Description

Michael is joined by Dr Lurion De Mello, Senior Lecturer, Department of Applied Finance at Macquarie University’s Business School, who says fuel companies deserve greater scrutiny and are fixated on their profit margins.

Dr De Mello says “when crude oil prices go up the retailers jack up their prices overnight, but it always takes longer — up to a month — for prices to come back down when the crude oil price drops.”

He said fuel retailers usually operated on profit margins of 15 to 20 per cent, but that the current margins were significantly higher.

Period2 Apr 2020

Media contributions

1

Media contributions

  • TitleSydney petrol retailers accused of price gouging
    Degree of recognitionNational
    Media name/outlet2GB 873AM
    Media typeRadio
    Duration/Length/Size11:12 min
    Country/TerritoryAustralia
    Date2/04/20
    DescriptionMichael is joined by Dr Lurion De Mello, Senior Lecturer, Department of Applied Finance at Macquarie University’s Business School, who says fuel companies deserve greater scrutiny and are fixated on their profit margins.

    Dr De Mello says “when crude oil prices go up the retailers jack up their prices overnight, but it always takes longer — up to a month — for prices to come back down when the crude oil price drops.”

    He said fuel retailers usually operated on profit margins of 15 to 20 per cent, but that the current margins were significantly higher.
    Producer/AuthorMichael McLaren
    URLhttps://www.2gb.com/podcast/sydney-petrol-retailers-accused-of-price-gouging/
    PersonsLurion De Mello