The Allan Labor Government has unveiled a game-changing initiative to cap and lock daily fuel price rises, aiming to deliver real savings for Victorian families struggling with the cost of living.
The new Fair Fuel Plan will introduce mandatory real-time price reporting for over 1500 fuel retailers across the state. These retailers will be required to publicly disclose their price changes a day in advance, and those prices must then remain fixed for 24 hours.
Dylan Anderson
What’s Changing?
- Daily Price Lock-In: Fuel companies will have to set their prices the day before and keep them fixed for 24 hours.
- Mandatory Reporting: Unlike the current voluntary system, all fuel retailers must report their prices in real time.
- Fuel Finder App: A new feature on the Service Victoria app will show live pricing from every service station across Victoria, allowing consumers to compare and save.
Why It Matters
Fuel prices have long been known to fluctuate several times a day, often leaving drivers frustrated by unpredictable increases. According to the ACCC, savvy drivers in Melbourne could have saved up to $333 a year by filling up at the lowest point of the fuel price cycle.
With the new Fair Fuel Plan, drivers will gain certainty and transparency, helping them make informed decisions about where and when to fill up. Importantly, while fuel prices can’t go up during the 24-hour window, companies are still free to drop their prices, encouraging healthy competition.
Dylan Anderson
Implementation Timeline
- Service Victoria Fuel Finder Launch: Expected later in 2025.
- Daily Price Lock-In and Mandatory Reporting: Will be phased in throughout 2025, following consultation with fuel retailers to ensure the system is practical and fair, particularly for smaller operators.
Enforcement and Oversight
The government will establish new regulations and penalties to enforce compliance. These measures will ensure that all retailers, including multinational chains, are held accountable for their pricing transparency.
Cost-of-Living Support
This fuel initiative builds on a series of cost-of-living relief measures from the Victorian Government, including:
- Free rego for apprentices
- Free kindergarten
- Capped V/Line fares
- Stamp duty exemptions
- $400 School Saving Bonus
Bottom Line
With fuel prices often a daily concern for working families, the Fair Fuel Plan gives Victorians a powerful new way to save. By enforcing price transparency and locking in rates for a full day, the plan is set to deliver tangible savings at the bowser and reduce the stress of fluctuating fuel costs.
Victorians can now look forward to a more transparent, fair, and cost-conscious fuel pricing system that puts everyday drivers first.
Dylan Anderson
Dylan Anderson
