Motorists are waiting with hope that oil prices falling into the negative for the first time ever will mean cheaper petrol for Australians.

But we just have to wait.

NRMA spokesman Peter Khoury said Australia’s petrol prices will depend on how the Asian market responded to the drop in price of oil.

Data from the Australian Competition and Consumer Commission shows how petrol prices in most capital cities have been falling steadily from as high as $1.40 at the end of March, to less than $1.

Mr Khoury said prices in regional areas and the smaller capital cities of Canberra, Hobart and Darwin still remained “stubbornly high”.

“The people currently driving on our roads are healthcare workers and first responders, workers delivering essential services and families shopping for groceries – just the people who desperately need some relief at the bowser right now,” he said.

“The NRMA has kept a watchful eye on prices since the coronavirus shut our nation down and we are finally seeing prices fall.

“The average price in Sydney has fallen over 37 cents per litre in the last four weeks and they will continue to fall to below 90 cents per litre.

“Pleasingly we are seeing these falls across all the major brands.”

He said petrol prices dropping below $1 per litre should be the norm, not the exception.

In Bathhurst, retailers have dropped their price for unleaded fuel down to 91.7 cents per litre, but Perthville Metro’s Shiva Kasturi said he he did not know how long prices would stay under a $1 because it depended on the global market.

“We’re trying to help our community, the Perthville people. They are very loyal to us,” he said.

Extracted from The Area News

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