Petrol stations in Victoria to lock in fuel prices for 24 hours under bold cost of living plan

Drivers in Victoria will soon avoid fluctuating petrol prices after the state government announced a fuel price hike cap as part of a "cost of living shakeup".

Premier Jacinta Allan today announced Labor's "fair fuel plan", which will force petrol stations to publicly reveal price changes and to lock in those prices for 24 hours.

It will see more than 1500 petrol retailers announce daily fuel prices in advance and cap price rises to once a day, in a bid to curb price gouging and ease pressure on motorists in Victoria.

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Allan said Melbourne drivers could save up to $333 every year by filling up at the cheapest point of fuel.

"Consumers know fuel prices fluctuate all the time – sometimes multiple times a day," Allan said today.

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"The Fair Fuel Plan won't change everything, but it's one extra tool at families' disposal to help them save at the servo – another way to keep fuel companies transparent about the prices they set and the deals they promote.

"This isn't about punishing retailers, this is about helping motorists."

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As it stands, fuel price reporting in Victoria is voluntary.

The plan, which will be rolled out throughout 2025, will allow motorists to check their local area for the best petrol prices 24 hours before they take effect.

Data will be collected and displayed on the fuel finder feature on the Service Victoria app.

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