At the three Salamander Bay service stations (Caltex, Mobile and Shell), all had regular unleaded petrol listed at $1.25 per litre on Monday morning. Premium and diesel prices, however, did vary slightly.

It was good news at the pumps for Port Stephens motorists who are more accustomed at this time of the year to fluctuating, and predominantly increasing, prices.

Peter Khoury, from the NRMA media centre, told the Examiner that the average price of regular unleaded petrol, currently at between $1.18 and $1.25 per litre in Port Stephens, was expected to continue to hover around those prices in coming months.

“In fact, these average prices have remained consistent in regional areas right around the state of NSW, except for the far north coast where their prices align with the more expensive Brisbane cycle,” Mr Khoury said.

“You will also find that Sydney prices, which are much more driven by cycles, have been averaging similar prices to those in Port Stephens (averaging this week at $1.17).

“But those Sydney prices are expected to fall, probably down to around an average of $1.09 before they start their upward trend again.”

Mr Khoury said that the price of petrol was one issue that had not been affected by the coronavirus pandemic.

“Petrol prices are impacted by firstly, the international price of oil and, secondly, the state of the Australian dollar against the US dollar. Both of these have remained stable in recent months. The price of a barrel of oil has been averaging at around $50 and the Australian dollar has drifted slightly between 70 cents and 75 cents compared to the US dollar. COVID has not played any part in the prices we are currently experiencing.”

Despite this consistency, Mr Khoury advised Port Stephens motorists looking to save money at the petrol pumps to download the NRMA app, “where you can find the latest fuel prices near you with real-time updates from all stations across Sydney and NSW”.

“It would help reduce your vehicle’s fuel consumption during the daily commute and stretch your holiday dollars further on your next road trip.”

A recent report from the ACCC revealed that motorists could save an average of 2.6 cents per litre by avoiding buying petrol at the peak of the price cycle.

“Motorists who fill up weekly can make substantial savings by avoiding the six most expensive days in the price cycle. Use fuel price transparency apps or websites to find the most competitive fuel price near you,” the report stated.

Extracted in full from: https://www.portstephensexaminer.com.au/story/7074191/petrol-prices-to-remain-stable/

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