Fuel companies face mounting pressure to drop petrol prices
By Sourced Externally
December 21, 2020
Fuel companies are facing mounting pressure to drop prices at the bowser between now and Christmas.Following a peak of $1.40 a litre last week, petrol should be getting cheaper, but the NRMA warns some stubborn retailers are maintaining high prices.
“Prices are falling in Sydney – that’s a good sign,” the NRMA’s Peter Khoury told 9News.”They need to fall a lot quicker and they need to fall right throughout the Christmas and New Year period until we breach that $1.10 mark.”While Sydney fuel prices were lower on average throughout 2020 due to COVID-19, NRMA analysis reveals oil companies enjoyed record profits from longer fuel cycles and prices rising rapidly but dropping slowly.