Freya Noble, 20 January 2016
Petrol prices have dropped below one dollar in parts of the country for the first time in six months, and experts expect prices to stay low.
There have also been predictions that motorists could be paying less than a dollar in Brisbane too, however the average fuel price remains higher there than some of the other capital cities.
‘What we currently are in in most of our east coast capital cities – except for Brisbane – we are in the lower half of the price cycle’, CEO Australasian Convenience and Petroleum Marketers Association Mark McKenzie told Daily Mail Australia.
Mr McKenzie said prices had been dropping ‘relatively quickly’ since Christmas, under the influence of the dropping world oil price.
‘We expect the lower oil prices to continue put downward pressure and both the top and the bottom of the cycle,’ he added.
There is a few days left in the cycle, Mr McKenzie said, but prices are still expected to stay lower than they have in around six months.
‘Once again the price of the top and bottom of the cycle will be lower in the next cycle than they have been in the last four or five,’ he said.
The reason for the lower prices is that demand isn’t at high at this time of the year as not as many people are driving to work.
‘If you’re getting close to needing petrol in the next couple of days it would be worth filling up before the cycle starts again,’ Mr McKenzie advised.
The capital city with the lowest unleaded petrol price on Tuesday was Adelaide, with an average of 104.1 cents according to motoring industry group Motor Mouth.
It was followed by Sydney (108.1), Melbourne (109.1), Brisbane (120.0), Perth (125.0), Darwin (125.1), Canberra (125.8) and Hobart (129.6).
Extracted in full from the Daily Mail.