Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Hansard source

I thank Senator Darmanin for the supplementary. We've been clear with industry that the international crisis is not a chance to make a quick buck, and we take that seriously. That's why the Treasurer has written to the ACCC to ensure they are monitoring prices and market conduct. The ACCC have issued their own statement, putting retailers on notice, and senators will be aware that we increased penalties to up to $50 million, which is five times higher than they were.

So we've given the ACCC the tools they need, like extending petrol price monitoring powers and the ability to issue on-the-spot fines. Also, Minister Bowen, Minister Ayres and Minister Collins are convening key representatives from the farming, trucking, fuel and fertiliser industries today to ensure supply chains are well managed, and we will continue to monitor supply shipping and prices of fuel closely, with Minister Bowen convening the National Oil Supplies Emergency Committee to ensure all states and territories are—