Ashley Manicaros, 24 February 2016

The average retail price of unleaded petrol across the Territory last week was its lowest since October 2009.

Treasury reports the weekly average price for the week ending Monday was 121.8 cents per litre.

The majority of automotive fuel in the Territory is sourced from overseas through one ­import terminal at the Port of Darwin.

The weekly average retail price differential for ULP in the Territory compared to the national average was 12.5cl, up 1cpl from the same time last year.

In Darwin, the weekly average retail price of ULP was 119.9c/l.

This was the second highest weekly average retail price for ULP among the capital cities, which ranged from 97.5c/l in Adelaide to 120.8c/l in Hobart.

The Darwin weekly average TGP for ULP was 100.1c/l, which was 19.9c/l lower compared to the same time last year.

The decline in the Darwin TGP appears to be largely related to recent falls in oil prices. The average retail price of diesel in the Territory was 120.1c/l.

This was 15c/l lower than at the same time last year and the lowest weekly average retail price of diesel recorded in the Territory over the past 10 years. The weekly average ret­ail diesel price differential bet­ween the Territory and the national average was 6.9c/l in the week, down 1cpl compared on the same time last year.

In Darwin, weekly average retail price for diesel was 117.4c/l. This was the second highest weekly retail price of diesel rec­orded among all capital cities, which ranged from 104.6c/l in Adelaide to 119.1c/l in Hobart.

The weekly average spot price of Tapis crude oil inc­reased by 20.7 per cent in the month to $35.1 per barrel in Australian dollar terms. However, it remains below long- term trends.

Extracted in full from the NT News.

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