On 15 June 2007 the then Treasurer (Peter Costello) approved an ACCC price inquiry into the price of unleaded petrol. Matters to be taken into consideration included (but were not restricted to):

• 'the structure of the industry
• the extent of competition at the refinery, wholesale and retail levels, including the role of imports
• the determination of prices at each of these levels, including the methodology for determining wholesale prices
• impediments to efficient petrol pricing and possible methods to address them. '