The Australian Competition and Consumer Commission announced today that it intends to oppose the proposed acquisition by BP Australia Pty Ltd of Woolworths Limited's retail service station sites.
ACCC Chairman Rod Sims has said that the ACCC considers BP acquiring Woolworths' service stations will likely substantially lessen competition in the retail supply of fuel.
The ACCC has taken into account a large number of submissions from a wide range of market participants which included motoring groups, competitors, corporate individuals and consumers.
At present, BP prices are higher on average than Woolworths prices in major capital cities. The ACCC has also said that this acquisition will likely affect metropolitan price cycles by making price jumps quicker and larger.
The MTA will continue to watch developments on behalf of members.
Click here to access the ACCC media release.