Petrol could be set to drop by between 10 and 30 cents a litre at the pump as the government takes aim at the big oil companies over their pricing.
The government says companies have been making excessive profits on the wholesale price they charge their competitors to pick up fuel from their terminals.
It says it's acting with urgency and hopes to have new rules to curb the high prices in place by mid year.
Conan Young reports.
