Australian petrol prices hit their lowest in various states and territories
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As we navigate the ever-fluctuating economy, prices of essential items continue to rise across the country.
However, there's a glimmer of hope for Australian motorists.
This welcome news comes as a relief, especially to those who rely on their cars for daily mobility.
Petrol prices recently hit a spectacular 12-month low in various parts of the country.
As of Tuesday, the average price of unleaded 91 fuel in New South Wales dipped to $1.90.
Some Sydney suburbs saw petrol prices as low as $1.59 per litre.
Victoria had an average price of $1.79 per litre, and several Melbourne locations offer fuel for the low price of $1.59.
South Australians also saw a dip in petrol prices, with an average price of $1.76.
Adelaide's outer suburbs enjoyed prices that went down to $1.61.
The Royal Automobile Association of South Australia (RAA) also shared that Adelaide's current fuel price is the lowest it's been in 2024.
Queensland's average petrol prices were at $1.85, but Brisbane residents can fill their petrol tanks for as little as $1.59 per litre.
Meanwhile, in Perth, prices have plummeted to $1.54 near the airport, while the West Australian average is at $1.79.
The Northern Territory averages at $1.90, with Darwin offering the cheapest fuel at $1.72.
Lastly, Hobart motorists could find petrol at $1.79, with the Tasmania price average at $1.87.
The Australian Competition and Consumer Commission (ACCC) revealed that motorists who use these resources could save significant amounts of money annually.
Several government-run apps provide real-time petrol price updates.
Additionally, navigation apps like Waze and Google Maps also show petrol prices, making it easier to find the best deals while on the road.
For those who want to get the best bang-for-buck petrol prices, motorists can use price comparison websites and apps.
Several factors contribute to the dip in petrol prices.
These factors include international benchmarks, wholesaler prices, and the strength of the Australian dollar.
Recently, world crude oil prices have decreased due to a potential ceasefire deal and a slowdown in demand from China.
These lower prices, in turn, get passed on to Australian petrol stations.
However, the situation can change rapidly.
For instance, news of potential oil production cuts caused prices to rise by 3 per cent.
On the brighter side, Australian banks have been optimistic about the Australian dollar's value, as Westpac predicted it could reach 70 US cents by December 2024.
RAA's Mobility and Automotive Policy Senior Manager Mark Borlace suggested that fuel prices could remain low, unless a broader regional conflict erupts in the Middle East.
He also believed that China and the United States' concerns about recession exerted a downward pressure on crude oil prices.
This dip in petrol prices is a chance to breathe easier when budgeting.
So, keep an eye on those fuel prices, use the available tools to find the best deals, and enjoy the extra savings while they last.
Have you noticed these low prices in your local petrol station? How has it affected your daily life? Share your experiences and fuel-saving tips in the comments section below.
However, there's a glimmer of hope for Australian motorists.
This welcome news comes as a relief, especially to those who rely on their cars for daily mobility.
Petrol prices recently hit a spectacular 12-month low in various parts of the country.
As of Tuesday, the average price of unleaded 91 fuel in New South Wales dipped to $1.90.
Some Sydney suburbs saw petrol prices as low as $1.59 per litre.
Victoria had an average price of $1.79 per litre, and several Melbourne locations offer fuel for the low price of $1.59.
Petrol prices across the country saw low prices due to multiple internal and external factors. Image Credit: Erik McLean
South Australians also saw a dip in petrol prices, with an average price of $1.76.
Adelaide's outer suburbs enjoyed prices that went down to $1.61.
The Royal Automobile Association of South Australia (RAA) also shared that Adelaide's current fuel price is the lowest it's been in 2024.
Queensland's average petrol prices were at $1.85, but Brisbane residents can fill their petrol tanks for as little as $1.59 per litre.
Meanwhile, in Perth, prices have plummeted to $1.54 near the airport, while the West Australian average is at $1.79.
The Northern Territory averages at $1.90, with Darwin offering the cheapest fuel at $1.72.
Lastly, Hobart motorists could find petrol at $1.79, with the Tasmania price average at $1.87.
The Australian Competition and Consumer Commission (ACCC) revealed that motorists who use these resources could save significant amounts of money annually.
Several government-run apps provide real-time petrol price updates.
Here are some government-run apps motorists can use to check petrol prices. Source: 7News
Additionally, navigation apps like Waze and Google Maps also show petrol prices, making it easier to find the best deals while on the road.
For those who want to get the best bang-for-buck petrol prices, motorists can use price comparison websites and apps.
Several factors contribute to the dip in petrol prices.
These factors include international benchmarks, wholesaler prices, and the strength of the Australian dollar.
Recently, world crude oil prices have decreased due to a potential ceasefire deal and a slowdown in demand from China.
These lower prices, in turn, get passed on to Australian petrol stations.
However, the situation can change rapidly.
For instance, news of potential oil production cuts caused prices to rise by 3 per cent.
On the brighter side, Australian banks have been optimistic about the Australian dollar's value, as Westpac predicted it could reach 70 US cents by December 2024.
RAA's Mobility and Automotive Policy Senior Manager Mark Borlace suggested that fuel prices could remain low, unless a broader regional conflict erupts in the Middle East.
He also believed that China and the United States' concerns about recession exerted a downward pressure on crude oil prices.
This dip in petrol prices is a chance to breathe easier when budgeting.
So, keep an eye on those fuel prices, use the available tools to find the best deals, and enjoy the extra savings while they last.
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