About the Oilcode Review
Under Section 3(2) of the Trade Practices (Industry Codes—Oilcode) Regulations 2006 (the Oilcode), the Department of Resources, Energy and Tourism (RET) was required to perform a review after 12 months of the Oilcode’s operation, to determine its success in meeting objectives.
The department commenced the Oilcode Review (see Related documents) in March 2008.
During the review, the Australian Government requested that the department also examine the appropriateness of the arrangements for terminal gate pricing (TGP) publication. This direction stemmed from the government’s response to the Australian Competition and Consumer Commission’s (ACCC) December 2007 report, Petrol Prices and Australian Consumers—report of the ACCC inquiry into the price of unleaded petrol.
The Minister for Resources and Energy released the Oilcode Review report on 24 August 2009.
The review concluded that the Oilcode met its key objectives and that the current arrangements for TGP publication were appropriate. The review made 11 recommendations for the government to increase disclosure obligations, further clarify the dispute resolution scheme, examine options for amalgamating the procurement process for the dispute resolution services and conduct another review in three years time.
The government released its response to the Oilcode Review in June 2011, which accepted all 11 recommendations. In accordance with the review’s final recommendation, a further review of the Oilcode will be conducted in 2013.
For more information about the Oilcode please email TransportFuels@ret.gov.au.