PETROL will drop to 49.9c a litre in western Sydney today to kickstart a federal protest over motorists and independent service stations being "ripped off" by major oil giants.
Dubbed "Independent's Day", the unleaded happy hour will be spearheaded by petrol crusader Marie El-Khoury at her Blacktown BP station.
She will pump discounted unleaded petrol from 7.30am along with independent senator Nick Xenophon and maverick senator Barnaby Joyce who will join her "fight for justice".
With petrol prices hovering about $1.30 a litre across Sydney, hundreds of drivers are expected to cause traffic gridlock to fill up at the bargain price - not seen since the early 1990s - as part of the national campaign.
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Independent petrol sellers and frustrated senators want to force the Federal Government to act on growing claims of "anti-competitive" and predatory pricing by the major oil companies. Motorists enjoyed the sub-50c a litre price at independent stations for an hour in January, which caused traffic mayhem, but Mr Joyce said it was time more people stood up to the oil giants through discounting.
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"This is a protest for the underdog, the people of Australia are being strangled (by oil companies)," Mr Joyce told The Daily Telegraph.
"The Federal Government has been too scared to take on the big players - we also need greater transparency at the wholesale level." Mr Xenophon said the protest was designed to highlight how small business operators were being "squeezed out" by large companies, including petrol companies.
"This is a national issue and Marie has become a national hero for the struggle of the little guy against the oil companies," he said.
"The big oil companies have a stranglehold of fuel supply and distribution and that's the biggest barriers for cheaper fuel for motorists."
Discounting starts between 7.30am and 8am and last more than an hour.
"It's hurting us at the moment but we want to help people save money," Ms El-Khoury said.
In terms of current petrol prices, Caltex said the latest spike was due to a drop in production in Singapore.
Industry experts claim since all Singapore refineries were linked to oil companies operating in Australia, there was a temptation for refineries to cut production to raise the price.