Fuel retailers in Victoria will need to publicly report prices the day before they change and cap any rises for 24 hours under a major proposition from the State Government.
Premier Jacinta Allan says the change will not be a silver bullet for cost of living pressures, however research has found Melburnians could save more than $300 a year with better price transparency.
The Opposition says similar policies floated by a Labor government in Canberra in 2008 were forecast to increase compliance costs on businesses and would have disproportionately affected small retailers.
The Australian Fuel Retailers Association says price reporting ...
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