Chris McLennan, 03 February 2016

PETROL prices have fallen below $1 at only a handful of stations outside metropol­itan Melbourne.

Bacchus Marsh, Melton, Bass and even a single stat­ion in Bairnsdale have sold fuel for less than $1 a litre in the past few days.

Many Melbourne stations have been selling unleaded fuel for less than $1 for more than a week.

RACV petrol spokesman Michael Case said the majority of fuel prices in rural Victoria averaged more than 120c a litre for unleaded fuel and some were almost 130c.

“We are seeing reductions in rural prices but there is a time lag at bringing those down,” Mr Case.

“We’re not the only ones who would like to see them falling faster than that.”

Mr Case said the lag bet­ween regional and metropolitan fuel prices should be about a week but was often much longer.

Victorian senator Ricky Muir wants new laws to stop motorists being ripped off at the bowser.

Senator Muir said the price of crude oil had fallen by more than 70 per cent in the past 18 months although fuel prices had not.

Australian Competition and Consumer Commission chairman Rod Sims claimed motorists were paying 6-7c a litre too much for petrol.

Extracted in full from the Weekly Times.