Petroleum products and the Oilcode
The Oilcode is a mandatory code of conduct prescribed underSection 51AE of the Trade Practices Act 1974. The Code, which took effect on 1 March 2007, has the force of law and is binding on all participants in the downstream petroleum retail industry.
The Oilcode aims to improve the operating environment for industry participants by encouraging greater transparency of terminal gate pricing and fuel re-selling agreements, as well as tenure under fuel re-selling agreements and greater certainty for industry participants regarding supply of petroleum products.
Wholesale customers who are not party to a fuel re-selling agreement with a supplier have the right to buy declared petroleum products at the wholesale (terminal gate) price. In particular, suppliers must make their terminal gate price available to the public each day on an Internet website, or if this is not possible by telephone or facsimile.
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