Phase 2 of the Fair Fuel Plan has passed the Victorian Parliament.
This phase will introduce a daily fuel price cap to give Victorians clearer notice of fuel price changes.
The daily price cap sets the maximum amount fuel retailers can charge for fuel over a 24-hour period. During this time, retailers can lower their prices but cannot increase them.
The Victorian Government will confirm the start date of this new legislation soon. Fuel retailers will receive clear guidance and advance notice to help them prepare for the change.
For fuel retailers
In addition to existing obligations under Phase 1, Phase 2 will mean:
- you must set the next day’s maximum price (cap) between 8:30am and 2:00pm
- the cap will be published on Servo Saver by 4:00pm, giving motorists early visibility of the next day’s maximum price
- the cap will apply from 4:00am the next day and remain in place for 24 hours
- you can reduce prices during the day but not increase them.
If a retailer does not submit a cap, the previous day’s cap will automatically roll over.
Further instructions, timelines and support materials will be provided to the industry ahead of commencement.
For motorists
From 4:00pm each day, motorists will be able to see the next day’s maximum fuel price (cap) on Servo Saver. This will help you decide when and where to fill up.
Support for retailers