Mr TIM JAMES (Willoughby) (12:55): My question is directed to the Minister for Better Regulation and Fair Trading. With the price of regular unleaded skyrocketing past $2.40 a litre or more, will the Minister give drivers certainty by supporting the Liberal-Nationals policy to require petrol stations to set a daily maximum price?

Mr ANOULACK CHANTHIVONG (Macquarie Fields—Minister for Better Regulation and Fair Trading, Minister for Industry and Trade, Minister for Innovation, Science and Technology, Minister for Building, and Minister for Corrections) (12:55): I thank the shadow Minister for his question. The Government has not seen the Opposition's legislation: All we have seen is a press release. But let me make very clear that the Opposition is misleading the people of New South Wales by saying that its policy is a price cap on fuel. The Opposition is saying is that it can control the daily spot price for crude oil coming out through the Strait of Hormuz.

The SPEAKER: Members will come to order.

Mr ANOULACK CHANTHIVONG: The Opposition is misleading the people of New South Wales by saying it can put a price cap on the price of fuel when it actually cannot. Let me go through the facts relating to the Opposition's proposal to cap prices. This has happened in other States, such as Western Australia.

Mr Kevin Anderson: Point of order: My point of order relates to Standing Order 129, relevance. It is not about the Strait of Hormuz. Basically, it is about Liberal‑Nationals making sure that the cap is set.

The SPEAKER: The member for Tamworth can ask the question but he cannot dictate the answer. The Minister is being directly relevant.

Mr ANOULACK CHANTHIVONG: As I said, the Opposition is misleading the people of New South Wales. The Opposition is not able to control or cap the price of fuel. But let me examine the evidence of the Opposition's proposal. Other States, such as Western Australia and Victoria, adopted what the member for Willoughby is suggesting. From 20 February to 11 March, the price of petrol in Perth increased by 59.5¢ per litre, whereas in New South Wales it was only 53.6¢. There were higher prices for petrol in Western Australia. That shows this bid does not work and the Opposition's proposal is misleading. I refer to a university study relating to the Western Australian proposal. It states:

Before the law [changed], if a firm attempted a price restoration but found no other firms followed, they could retreat from the restoration price back to a lower price within minutes with little harm done.

That suggests we need to make allowances for competition in the marketplace. That’s what our Fuel Check App does.

Under the law, price leaders are committed to relatively high pricing and a lower market share for a 24 hour period if they initiate a price restoration alone.

What that says is that, under this price cap, service providers and retail operators will set the highest price possible because they are trying to take away the risk. What we have here are the free market capitalists.

Mr Tim James: I seek an extension of time and ask the Minister to address the retail price.

The SPEAKER: The member for Willoughby seeks further information. The Minister is granted an additional two minutes.

Mr ANOULACK CHANTHIVONG: I thank the member for Willoughby for the extension of time, because this is really important. The member for Willoughby has a Master of Business Administration and is a free market capitalist who is proposing a socialist price control. Join The Greens! He is a teal in the making.

The SPEAKER: I call the member for Oatley to order for the first time.

Mr James Griffin: Point of order: It is taken under Standing Order 129, direct relevance. It has got nothing to do with the member for Willoughby.

The SPEAKER: The Minister has been speaking in the same vein for a while. The member for Willoughby sought more information, and he will get more information if the Minister has more to give.

Mr ANOULACK CHANTHIVONG: I can actually see the members call for it in a teal colour.

Mr Anthony Roberts: Point of order—

Mr ANOULACK CHANTHIVONG: The blue is gone.

The SPEAKER: The Clerk will stop the clock.

Mr Anthony Roberts: I am in a helpful mood today. In this case, the Minister's answer should be no. He can leave it.

The SPEAKER: I do not uphold the point of order. The Minister is being directly relevant.

Mr ANOULACK CHANTHIVONG: Mr Speaker—

The SPEAKER: Members will come to order.

Mr ANOULACK CHANTHIVONG: The best way to help our community in this difficult time is to ensure that there is the greatest level of competition possible in the retail space. That is what the FuelCheck app does. It creates competition among retail operators and provides instant information for motorists so they can check. That is the best way for drivers to find out which petrol station is the cheapest.

The SPEAKER: I call the member for North Shore to order for the second time.

Mr ANOULACK CHANTHIVONG: What is not the solution is a Stalinist price control, as suggested by the member for Willoughby—a teal in motion—which misleads consumers that somehow those opposite can control the price of crude across the world, right here in New South Wales.

The SPEAKER: I call the member for Willoughby to order for the first time.

Mr ANOULACK CHANTHIVONG: That is misleading.