The industry organisation insists that the country's big oil companies - BP, Caltex, Mobil and Shell - "do not profit from high crude oil prices", but are in fact "cushioning the Australian motorists from the full effects of rising crude oil prices".
BBC: Holiday fuel rise fury
If the reserves problem at Shell does not grow into an industry-wide scandal, one reason may be today's high oil prices.
ECONOMIST: Oil companies
Royal Dutch Shell has reported a 13% drop in second quarter profits, hit by weaker oil and North American gas prices.
BBC: Royal Dutch Shell profits hit by oil price volatility
Shell said that it saw stronger margins in its oil refining division, but these were outweighed by lower crude prices during the quarter.
BBC: Royal Dutch Shell and Exxon Mobil see profits fall
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