Some surety around daily fuel prices can now be achieved for south west residents.
Victorian premier Jacinta Allan has announced new anti-price gouging laws will come into effect today.
Under these laws, fuel retailers must set a daily cap on fuel prices.
The price for the following day must be announced by 2pm, with the price published on the Servo Saver app at 4pm.
This price will stay in place for 24 hours from 6am the following day.
The price of fuel can not be raised that day, but can be lowered.
Fuel retailers caught not abiding by the laws face significant fines.
The laws have come in place to help ease any panic attached to possible oil shortages due to the military action in Iran.
Premier Jacinta Allan said the new laws would provide real savings for Victorians.
“How often do you see a cheap price in the morning, only for it to jump by the afternoon,” Ms Allan said.
“We’re stopping families from getting ripped off at the servo and helping them save hundreds a year.”
