Eliza Goetze, 27 January 2016

A BUNDABERG service station ran out of diesel fuel on Wednesday afternoon after the price hit a low of 99.9c per litre.

An employee from East Bundaberg Shell took to Facebook at 3pm to warn that the station was all out and that the tanker was expected on Thursday morning, after local motorists took advantage of the bargain.

At just under a dollar, the price is well below the region’s average price for diesel of 107.6c.

RACQ executive manager Michael Roth said the price drop was a reflection of the global economy.

“Diesel prices fluctuate in line with how the global economy is faring, as it’s used more by miners, heavy industry and the trucking fleet.

“As mining drops, diesel becomes cheaper than petrol; when the economy is going well, diesel is more expensive than petrol.

“That’s not just an Australian story, that’s a global story.”

The wholesale price for diesel is currently 90 cents per litre, considerably lower than petrol which is at 1.04c.

“Hopefully you’ll see a lot more stations heading below a dollar soon,” Mr Roth said.

Bundaberg is currently the third cheapest region in Queensland behind Ayr, with an average price of 100.2c, and Gympie, at 104.9c.

The East Bundaberg rate is also below what the RACQ rates as a “fair fuel price” of 100.9c.

Extracted in full from News Mail.