The competition watchdog has hit out at price gouging on rapid COVID-19 tests, coming as Australians struggle to find at-home kits.
Australian Competition and Consumer Commission chairman Rod Sims said kits were costing between $20 and $30 per test, with some reports of costs more than $70 a test at smaller retail outlets.
The huge mark-ups are slugging consumers, with wholesale costs ranging between $3.95 and $11.45 a test.
Sims said the ACCC is continuing to analyse the information which includes more than 1800 reports from members of the public, reflecting the continued significant community interest in the pricing of rapid antigen tests.
“At the extreme end, we have received reports or seen media coverage of tests costing up to $500 for two tests through online marketplaces, and over $70 per test through convenience stores, service stations and independent supermarkets, which is clearly outrageous,” he said.
“There are several businesses that have repeatedly come to our notice thanks to the information provided by the public. We are asking those businesses to urgently explain the prices they are charging.“
The ACCC has contacted more than 40 test suppliers, major retailers and pharmacy chains seeking information about their costs, current pricing, and stock availability, and reminding them they need to be able to substantiate any claims they make to consumers about the reasons for higher prices.
From January 7, the average and the highest prices reported to the ACCC have increased to around $24 and $80 to $100 respectively.
The highest price reported for a single test is $100. Some of the higher prices relate to reports of selling through online marketplaces.
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