ACCC To Investigate "Outrageous" Price Gouging Of RATs

The Australian consumer watchdog is investigating the mismanagement of pricing for those on-selling rapid antigen tests - known as price gouging.

The Australian Competition and Consumer Commission (ACCC) is following reports of RATs costing hundreds through online markets.

Several consumers have reported a price of $70 per test at service stations and supermarkets.

Given businesses have the power to set their own price, reports have emerged of severe cost changes as a result of the high demand for at-home testing kits.

ACCC boss Rod Sims says the price gouging is "beyond outrageous".

He revealed the Therapeutics Goods Administration and the Australian Federal Police are banding together with the ACCC to put an end to unreasonable pricing.

"We're very much looking forward to what (retailers') explanations are for the very high pricing that's been reported," he said.

"Often some of these high prices are at stores you wouldn't expect like petrol retailers, tobacconists and convenience stores. We're very much looking at those as well as pharmacies."

Sims said any business found to have taken advantage of the RATs shortage will face fines of up to $10 million.

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