How does the Oilcode aim to achieve a nationally consistent approach to terminal gate pricing (TGP)?
With respect to terminal gate pricing, the Oilcode aims to: • improve transparency in wholesale pricing by requiring suppliers to post a TGP for declared petroleum products • allow access for all customers, including small businesses, to declared petroleum products at TGP. However, these provisions are not designed to: • negate the ability of parties to negotiate individual supply agreements on commercial terms • prevent the offering of discounts. Some of the specific TGP arrangements in the Oilcode include that: • the TGP must be expressed in cents per temperature-corrected (at 15°C) litre for each declared petroleum product sold • the TGP must either be posted on the wholesale supplier’s website or, if this is not possible, via a phone or facsimile service • a wholesale supplier must set the TGP and post it each day—but may set more than one price per day as long as it is clear that the new price supersedes all previous prices • a wholesale supplier must not include in posted TGP any