Fed: High petrol prices not due to excise, says Costello

AAP General News (Australia)
08-23-2000
Fed: High petrol prices not due to excise, says Costello

Treasurer PETER COSTELLO says fuel excises aren't the cause of petrol prices spiralling
past a dollar a litre.

Mr COSTELLO's told the Nine Network that international oil prices, which have tripled
in the past 18 months, are main driver for the price rises.

He's also denied claims by petroleum companies' that GST had helped push prices up,
adding all petrol GST definitely goes to the states.

Mr COSTELLO has also ruled out an inquiry into petrol prices, saying if there is profiteering,
it'll be fully investigated.

ACCC chairman ALLAN FELS announced last night he was investigating Shell and one other
oil company.

Professor FELLS is investigating claims the companies are pocketing a $500 million
fuel rebate designed to compensate country motorists.

AAP RTV fh/jcc/rt

KEYWORD: PETROL COSTELLO (CANBERRA)

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