Once more, oil companies are holding the Australian consumer to ransom because of the inherent oligopoly they have in the market and the lack of power we have under the Trade Practices Act to deal with it.

The major oil companies, coincidentally, dropped their prices after being approached by the ACCC in January this year which showed, prior to the event, they had the power, either covertly or overtly or through implicit understanding, to work in unison to extract a premium beyond competitive forces at the expense of the Australian motoring consumer.

It is Easter and surprise! surprise! – although the price of a barrel of oil is going down and the value of the dollar is going up and the implication is the price of petrol should be going down - it appears it is not. So, if you are going on holidays, going to visit family, get ready to fork out from the back pocket.

There are two things vital if you wish to deal with it. Firstly, we must mandate ethanol to install a competing product. This would loosen up supply, enhance discounting and increase competitive pressures. All major world economies have discovered this and are going down this path, except us.

Secondly, we need to strengthen the Trade Practices Act so it has greater teeth to deal with, what has now become, the bleeding obvious. This includes protection of independent service stations that are, everyday, being put under more pressure since the passage, supported by the Labor party, of the repeal of the Sites and Franchise Act.

A stronger Section 46, predatory pricing, and a stronger Section 51AC, unconscionable conduct, would be a good way to keep the independents, who bring about a more honest price for fuel, in the market.

The only other alternative is to not complain and accept more of the same and accept, possibly, the fact the oil companies are becoming more powerful than the Parliament.