US-based fuel price app GasBuddy, which enables users to submit and check petrol prices in real time, has launched in Australia.
Australia is GasBuddy’s first market outside of the US and Canada. The community-based smartphone app, which has been operating in beta for the last month in Australia, relies on users to report the latest petrol prices as well as the retailer’s location.
Users have to download the app to be able to submit prices, and prices can only be updated once they have been confirmed by other users who have also seen that price at a specific location. Motorists who submit prices are rewarded for entering the data with points, which can accumulate into rewards such as fuel vouchers.
In the US, the app has been downloaded 56 million times, has 15 million monthly users and generates more than 2 million user-submitted price updates every day.
Nic Moulis, country manager of GasBuddy Australia and former CEO of ACAPMA, said the app is a “game changer” for the Australian market.
“Petrol prices vary greatly even within a small distance and has long been a pain point for Aussies,” Mr Moulis said.
“GasBuddy is a game changer because it takes the mystery out of fuel cost, puts the power back to the consumer and provides the information needed for motorist to avoid overpaying at the bowser.”
GasBuddy’s launch follows the announcement by the NSW State Government last week that petrol retailers in NSW will soon be required to disclose fuel prices in real time to consumers via an online portal under new legislation.
The legislation, which is being led by NSW Minister for Innovation and Better Regulation Victor Dominello, would see around 2000 service stations in NSW forced to notify Fair Trading via an online portal when they change their prices. Once a price change occurs at the bowser, a short period will be allowed for it to be uploaded on the portal.
Mr Dominello said the legislation is giving the government the power to collect the data and will be introduced into state parliament shortly.
“This is important reform. We are living in the information age and consumers should be able to access and compare fuel prices using a digital device,” Mr Dominello said.
In December, the Australian Competition and Consumer Commission (ACCC) settled Federal Court proceedings against price sharing service Informed Sources and the retailers using its information including Coles Express, BP Australia, Caltex Australia Petroleum, Woolworths and 7-Eleven.
The ACCC had alleged the price information exchange service allowed users to communicate with each other about their prices, lessening competition for the sale of petrol.
Informed Sources and the petrol retailers involved agreed to make the pricing data available to consumers at the same time the retailers receive it in an effort to help consumers make better and more informed decisions about where and when to buy petrol.
I don t beleive the price monitor new procedures aim to give customers best prices cause there is many phone application that can , there is a dirty oil company govermental paid policy to track small business and keep the giant
Fuel company more power
I don t beleive the price monitor new procedures aim to give customers best prices cause there is many phone application that can , there is a dirty oil company govermental paid policy to track small business and keep the giant
Fuel company more power