Amid rising fuel prices due to conflict in the Middle East, the SA Labor party today announced extra funding to bolster compliance with real-time petrol price monitoring.

It means increased penalties for retailers who fail to update fuel prices appropriately, the party saying it would triple funding for compliance, allowing an additional 100 fuel inspections each month.

Penalties for failure to comply with any requirement imposed on a retailer by the fuel pricing scheme would be doubled, the party said.

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Under the scheme, retailers are required to report their prices to a central database within 30 minutes of changing the price at the pump. This information can then be accessed by drivers via fuel price apps.

Expiation fees would increase from $550 to $1100, while the maximum court-imposed penalty would rise from $10,000 to $20,000.

Labor said the policy would cost an additional $1.2 million over the next four years.

Premier Peter Malinauskas said he expected more South Australians to take advantage of real-time fuel pricing apps as the situation in the Middle East escalates.

“We need it to be as robust as possible – and that’s why we’re taking to the state election a plan to boost compliance and beef up penalties for any retailers who do the wrong thing,” he said.

“It’s estimated that shopping around for fuel can save the average motorist around $6.50 a tank – and across the almost 500,000 drivers using price checking apps every month, this equates to more than $58 million in collective savings for South Australian motorists each year.

“By routinely filling up at the bottom of the price cycle, these savings can go even higher – and Labor is committed to ensuring that all retailers are doing the right thing by SA drivers.”