PM flags extra ACCC powers on petrol

Prime Minister John Howard says he will give the Australian Competition and Consumer Commission (ACCC) any new powers it wants to crack down on petrol retailers.
The chairman of the consumer watchdog, Graeme Samuel, has hit out at petrol companies for not passing on a recent fall in international oil prices.
"There's almost an overwhelming community concern about what's happening in petrol prices," he said.
Mr Howard says he is also concerned and if requested, he will increase the ACCC's powers.
"We think the oil companies have been far too slow and Mr Samuel is expressing that view," he said.
"We want to make it very clear, both the Government and the chairman of the ACCC, that the oil companies should make sure that that lag does not occur."
But the federal Opposition Leader Kevin Rudd is accusing the Government of not doing enough to ensure petrol prices are properly monitored.
Mr Rudd says Treasurer Peter Costello should direct the ACCC to increase its price monitoring.
"Drill down right across the entire petroleum industry in this country - from one end to another - to make sure that price exploitation is not occurring and use intrusive means to identify whether there are any problems with price manipulation within it," he said.