Labor Moves To Double Penalties For Fuel Price Gouging

The new bill will raise maximum penalties for misconduct from $50 million to $100 million and expands enforcement powers for the consumer watchdog.

A petrol station sign advertises diesel for over three Australian dollars a litre, a new high due to the Middle East war, in the Melbourne suburb of Newport in Australia on March 23, 2026. William West/AFP via Getty Images

The Labor government has rolled out new legislation to crack down on fuel companies accused of exploiting global tensions to inflate prices, with penalties set to double.

Treasurer Jim Chalmers on March 25 introduced the Treasury Laws Amendment (Doubling Penalties for ACCC Enforcement) Bill 2026, aimed at strengthening action against price gouging linked to the Middle East conflict.