7-Eleven has refuted Australian Competition and Consumer Commission (ACCC) allegations about the use of Informed Sources data by 7-Eleven Stores and the other subscribers, calling the claims “unfounded”.

The company is one of five major fuel suppliers the ACCC has accused of acting in a way that could drive up petrol prices via subscription to statistics gathering service, Informed Sources, which allows real time sharing of pricing information in Melbourne.

Others implicated by the ACCC Federal Court proceedings are BP, Caltex and the fuel selling arms of Coles, Woolworths.

According to a statement by 7-Eleven, the petrol and convenience chain will strenuously defend the proceedings but the ACCC.

“The ACCC’s own data demonstrates there is very low profit for fuel retailers. 7-Eleven believes the Australian fuel retail market is extremely competitive,” the company said.

“7-Eleven is committed to being as competitive as it can be commercially in its pricing of fuel for the benefit of its customers. This objective, however, must necessarily be balanced with the need to ensure the long term sustainability of 7-Eleven’s business including its 600 franchises around Australia.

“7-Eleven’s subscription to Informed Sources Oil PriceWatch data, in fact facilitates the provision of the most competitive price possible for its customers,” said 7-Eleven.