Fill 'Er Up: Petrol Prices Down Just In Time For Long Weekend
Petrol prices are set to fall by 4 cents per litre just in time for the Australia Day long-weekend.
The price drops are part of an oversupply of oil in the Asian market, the NRMA reports.
Sydney, Melbourne and Brisbane have been enjoying the immediate effects of this oversupply, with petrol prices down as much as 15 cents per litre since last week.
The price drop of up to 4 cents per litre before the long-weekend is set to be nationwide--with falls continuing over the coming weeks.
Filling up in Sydney could see you spending as little as 132 cents per litre (CPL) for regular unleaded over the next two weeks.
Current gaps from cheapest (128.7 CPL) to most expensive (173.9 CPL) service stations in Sydney is 45 CPL.
Meanwhile, Adelaide is lagging behind major cities on the east coast and won't feel the larger effects until early next week.
This comes after Adelaide topped the charts with petrol prices reaching an average of 173 CPL in early January.
Perth, on the other hand, is currently experiencing a spike that is set to fall sharply during the long-weekend.
NRMA spokesperson Peter Khoury said this is an opportunity to get out over the long weekend.
His advice to motorists everywhere was to wait until the long weekend hits, and buy incrementally as prices will continue to drop.
Top up, don't fill up, he said.
This nationwide drop in petrol prices is seen as timely by the NRMA.
“Families could save on average $10 a litre on a tank of petrol and that is money that could be spent on a timely holiday in a regional or coastal centre rebuilding after the bushfires.”
Petrol by the barrel is at its lowest price in 2.5 months, and should offer some economic respite for people in areas adversely affected by the bushfires.