Shoppers at Woolworths' newest supermarket in Woolloomooloo, Sydney don't have to rush when doing their grocery anymore. The retail giant has dramatically cut their exorbitant parking rates after customers complained that the $65 fee was too much.

As previously reported by the Telegraph, Woolworths' new Woolloomooloo store had the most expensive car park in all of Australia or even the world. A sign posted in the show read that the first hour of parking was free, but grocers who would stay longer than an hour would be charged a whopping $65.

More than two hours of having their cars stay in the supermarket's parking lot would cost shoppers $95. And for those who are truly slow shoppers, they would need to pay $125 for over three hours of parking.

Needless to say, the company's customers weren't pleased with the excessive rates, so the management opted to please their customers by slashing the parking rates.

Shoppers are now allowed 90 minutes of free parking. After that, they will be charged $25 for parking up to two hours, $60 for two to three hours, and $90 for more than three hours.

"We have extended the free parking period to one and a half hours, which we believe is a fair amount of time for customers to do their shopping and enjoy a cup of coffee," a spokesman told the Herald Sun.

"For drivers who choose to stay longer in the car park, the rates will be clearly displayed."

He cleared, though, that parking is strictly intended for their customers.

Woolworths had defended the original parking prices, with their representative saying that there were a limited number of parking spaces available. Also, the store is close to the CBD, and the rates were to discourage office and retail workers from parking.

In related Woolworths news, competition watchdog Australian Competition and Consumer Commission (ACCC) said it will not stop the grocery giant from purchasing Hawker Supa IGA in north Canberra.

Residents said that Woolworth's plan to take over the independent supermarket, the only Supa IGA located in north Canberra, will change the nature of the Hawker shopping centre and compromise the viability of smaller businesses, which will therefore lessen competition.

"The ACCC found that the local market included several supermarket offerings," ACCC Chairman Rod Sims has been quoted by ABC News as saying. "Within this market, the Hawker Supa IGA's closest competition was a Coles supermarket at the nearby Jamison Centre, which also has an ALDO. The local Woolworths supermarkets are more distant competitors."

Hawker Supa IGA isn't as competitive as thought as well. According to the survey the ACCC conducted, the grocery store drew very few customers from outside its area.

"While it amounts to a lessening of competition it doesn't actually meet the threshold of a substantial lessening of competition," Mr Sims continued.