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Fair Fuel Plan could save Victorian motorists hundreds a year

Victorians are set to enjoy the benefits of a daily freeze on petrol prices under the government’s newly announced Fair Fuel Plan.

Premier Jacinta Allan and Minister for Consumer Affairs Nick Staikos revealed the plan today, aiming to help families and tradies tackle cost-of-living pressures.

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Under the scheme, fuel retailers will be required to report price changes a day in advance and lock in those prices for 24 hours. 

“You know how much fuel prices fluctuate – under our plan, you can find out tomorrow’s fuel price at every single servo on your route to work and make your decisions accordingly,” Ms Allan said.

Data from the Australian Competition and Consumer Commission suggests that Melbourne motorists could save up to $333 a year under the proposed plan.

“We know this won’t change everything for families who are doing it tough, but these savings can add up to hundreds of dollars a year.”

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The plan also includes mandatory real-time fuel price reporting from over 1500 retailers statewide. 

This data will feed into a new “fuel finder” feature on the Service Victoria app, allowing consumers to shop around for the best deals. 

Unlike commercial apps, the government’s tool will include all providers and be free of advertising.  

Mr Staikos said the plan would give families “more power at the browser”.

“We’re also keeping multinational fuel companies transparent about the prices they set and the deals they promote,” he said.

The Fair Fuel Plan will cap price increases to once a day, locking prices overnight to prevent surprises at the pump. 

However, retailers will still be able to lower prices throughout the day.  

Legislation and enforcement measures are also in development.

The Service Victoria fuel finder is set to launch later this year, with the full plan rolling out in 2025. 

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