The Northern Territory Government on 1 November 2017 established MyFuel NT, a Territory-wide mandatory retail fuel price reporting scheme and minimum standards for fuel price boards. MyFuel NT aims to empower consumers through increased transparency of fuel information and encourage greater competition in the Territory fuel market. The MyFuel NT website can be found at www.myfuelnt.nt.gov.au.

MyFuel NT gives consumers free access (via website) to real-time fuel price information for every fuel retailer in the Territory so they can easily search for the cheapest fuel, whether it be unleaded, diesel, or other fuel types. There is also a ban on the display of conditionally discounted fuel prices on price boards, to help reduce ambiguity for consumers about what price applies when purchasing fuel.

The Department of Treasury and Finance conducted industry consultation in January 2017 and released a draft version of the Consumer Affairs and Fair Trading (Fuel Retailers) Regulations for stakeholder’s consideration in July 2017. Feedback from consultation was considered to help inform the development of the new Regulations.

Consumer Affairs and Fair Trading (Fuel Retailers) Regulations have now been finalised. The Regulations include requirements for fuel retailers in the Territory for MyFuel NT and minimum standards for price boards, came into effect on 1 November 2017. The new Regulations can be accessed on the Northern Territory Government Legislation website.

Any queries in relation to MyFuel NT and the new price board initiatives can be directed to Northern Territory Consumer Affairs on (08) 8999 1999 or 1800 019 319.

For more information about the Territory retail fuel market and fuel price trends, please see the latest Fuel Prices economic brief.