Bethany Tyler, 26 January 2016

PETROL prices plummeted around the Geelong region on Australia Day.

Discounted unleaded dipped below $1 at the Drysdale Caltex for Safeway docket holders, and prices weren’t far off at North Geelong’s United service station at 103.9c per litre.

Motorists enjoyed cheaper petrol on Tuesday than the week’s average of 109c per litre in Geelong and 124.6c per litre in Colac for unleaded.

According to the RACV website, petrol prices have been on the decline since the end of December.

In Melbourne the average price for Australia Day was 103.6c per litre, with the lowest price at 99.9c and highest at 149c.

A graph depicting fuel trends showed a shrinking gap between the retail and wholesale price over the past month.

Extracted in full from the Geelong Advertiser.