(Reuters) -Australia’s competition watchdog said on Tuesday it has taken Exxon Mobil (NYSE:)’s local brand affiliate to court, claiming it misled customers about fuel sold at six of its branded petrol stations in Queensland.

Mobil is a petroleum brand owned and operated by American oil and gas corporation Exxon Mobil.

The Australian Competition and Consumer Commission (ACCC) alleges that Mobil falsely represented that its “Mobil Synergy” contained certain additives, when it did not.

“Consumers have no way of verifying the claims made about the fuel they put into their tank and rely on the accuracy of claims made by the fuel supplier,” the ACCC Commissioner Liza Carver said.

The firm further incorrectly claimed that the fuel sold at these petrol stations had a different quality or composition compared to fuel at its other sites, and contained certain extra benefits, the ACCC added.

“This conduct, which is isolated to six sites representing less than 1% of the entire Mobil-branded network, occurred as a result of a number of operational difficulties, including unanticipated delays associated with the COVID-19 pandemic and related supply issues, as well as the remote location of the sites involved,” a Mobil spokesperson told Reuters.

© Reuters. FILE PHOTO: A screen displays the trading information for ExxonMobil on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., December 9, 2022.  REUTERS/Brendan McDermid/File Photo

Exxon Mobil Australia, in an email to Reuters, said it had accepted the ACCC proceedings and has co-operated fully with the regulator during its investigation.

The firm said it is taking steps to ensure it does not engage in similar conduct going forward.


Source link

Best Brokers

Unmatched trading fees, generous bonuses, top notch Regulation Frame.

T&Cs Apply

Risk disclosure: All investments involve a degree of risk of some kind. Trading financial derivative products comes with a high risk of losing money rapidly due to leverage.

Top-Tier Regulations. Unmatched Spreads and Commissions. Trading View is available.

T&Cs Apply

Financial Spread Trades and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84.7% of retail investor accounts lose money when trading CFDs with this provider.

Modern and Intuitive Interfaces, Solid Regulatory Frame, and excellent Trading Fees.

T&Cs Apply
Risk warning: Trading derivatives is highly speculative, carries an inherent risk of loss and is not suitable for all investors. Before trading, you are strongly advised to read and ensure that you understand the relevant risk disclosures and warnings.

Highly Regulated. Low Spreads and Commissions. Vast Account Options.

T&Cs Apply

Risk Warning: Trading derivatives carries significant risks. It is not suitable for all investors and if you are a professional client, you could lose substantially more than your initial investment.