There was a similar price discrepancy with Fallout New Vegas and many Australian gamers lamented this as common across the industry.
Just because others do it doesn't make it right for Bethesda to do it too.
As for Steam, I’d guess retailers won’t agree to stock a title if it can be purchased for far less online. Again, that is a guess, but it does make sense and it would explain why the prices on Steam (for all publishers) usually reflect retail prices.
Not in this case. Steam is more than local prices. See my post above. By any argument it would be as if Steam was priced not to make local prices competitive, but to make local prices decidedly cheaper and a better deal. What's more if you are completely ignoring the fact that it's not retailers that set the price but it's the distributers that do, i.e. Bethesda in this case. Retailers apply their profit margins, local sales tax, and that is the price.
Hopefully as digital distribution takes off retailers will feel the pressure to reduce their costs.
Agreed but again this is not going to happen until publishers reduce the local costs. Until they sell the games to the retailers at the same cost price as they do to US stores, plus a margin to cover local packaging, or importing, whatever they do, then there's little retailers can do.
Bethesda have a great opportunity to set an example and win back Australia and New Zealand customers. They would end up with such a good reputation local sales would flow like a flood. I have bought every Bethesda game they have ever made and I yearn for the days I can pick up my pre-order from a local retailer. I do miss that excitement, beats watching the download meter.