Petrol is cheaper than ever in these five major cities! See how low prices have gone
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As the cost of living continues to rise, plummeting prices are a welcome sight—especially when it comes to the essentials.
For seniors who still hit the road—whether it's to visit family or to run errands—there's good news on the horizon.
Petrol prices recently took a significant dip across five major Australian cities.
The dip saw petrol prices at their lowest within the past three years.
This price drop should be a breath of fresh air for budget-conscious seniors, who often feel the pinch of fluctuating fuel costs.
According to the Australian Competition and Consumer Commission (ACCC), the average price for unleaded petrol was 179.8 cents per litre during the December quarter.
The said price was a noticeable decrease from the 182.8 cents recorded in the September quarter.
The ACCC added that this price decrease has been evident in Sydney, Melbourne, Brisbane, Adelaide, and Perth.
Darwin saw the most substantial price drop during the said quarter, where petrol prices fell by 7.5 cents per litre.
Canberra also saw a decrease of 6.9 cents per litre.
Melbourne's average petrol price settled at 181.1 cents per litre, Brisbane at 186.4 cents, Adelaide at 175.9 cents, and Hobart at 178.2 cents.
Sydney saw the most minor reduction, with a modest fall of 1.1 cents per litre to 182.2.
These prices have been the lowest for petrol since the September quarter of 2021.
During the said period, average petrol prices were at 178.2 cents per litre.
The highest quarterly average petrol price across five major Aussie cities reached 208 cents per litre in June 2022 during a geo-political upheaval between Russia and Ukraine.
ACCC Commissioner Anna Brakey shared her satisfaction with the price drop.
'It is pleasing to see that motorists had some relief when filling up at petrol stations across the country,' Commissioner Brakey stated.
The changes in petrol prices could be attributed to several factors, including lower international petrol prices due to decreased demand from major economic powers.
The price decrease could also be coupled with an increase in supply.
Geo-political events, such as conflicts in Ukraine and in the Middle East, also played a role in cooling down demand.
Additionally, central banks' interest rate hikes have contributed to this trend.
Domestically, factors such as a lower exchange rate, excise, wholesale goods and services taxes, and other wholesale and retail costs and margins have also impacted petrol prices.
According to Fuel Price Australia's real-time dashboard, the national average petrol price stands at 169 cents per litre.
Victoria and South Australia motorists could enjoy the cheapest petrol at 179 cents per litre.
Meanwhile, Northern Territory motorists face the highest prices at 218 cents per litre.
Savvy motorists also turned to fuel apps to find the best deals and when to fill their fuel tanks up with the best prices.
The Australasian Convenience and Petroleum Marketers Association reported that 41 per cent of customers have been using these kinds of apps last year alone.
Whether you're planning a road trip or need to fill up for your weekly activities, keeping an eye on petrol prices could lead to significant savings for your wallet.
Have you noticed the drop in petrol prices in your area? Have you used fuel apps to find the best deals? Share your experiences and tips in the comments below, and let's help each other navigate these changing times.
For seniors who still hit the road—whether it's to visit family or to run errands—there's good news on the horizon.
Petrol prices recently took a significant dip across five major Australian cities.
The dip saw petrol prices at their lowest within the past three years.
This price drop should be a breath of fresh air for budget-conscious seniors, who often feel the pinch of fluctuating fuel costs.
According to the Australian Competition and Consumer Commission (ACCC), the average price for unleaded petrol was 179.8 cents per litre during the December quarter.
The said price was a noticeable decrease from the 182.8 cents recorded in the September quarter.
The ACCC added that this price decrease has been evident in Sydney, Melbourne, Brisbane, Adelaide, and Perth.
Darwin saw the most substantial price drop during the said quarter, where petrol prices fell by 7.5 cents per litre.
Canberra also saw a decrease of 6.9 cents per litre.
Melbourne's average petrol price settled at 181.1 cents per litre, Brisbane at 186.4 cents, Adelaide at 175.9 cents, and Hobart at 178.2 cents.
Sydney saw the most minor reduction, with a modest fall of 1.1 cents per litre to 182.2.
These prices have been the lowest for petrol since the September quarter of 2021.
During the said period, average petrol prices were at 178.2 cents per litre.
The highest quarterly average petrol price across five major Aussie cities reached 208 cents per litre in June 2022 during a geo-political upheaval between Russia and Ukraine.
ACCC Commissioner Anna Brakey shared her satisfaction with the price drop.
'It is pleasing to see that motorists had some relief when filling up at petrol stations across the country,' Commissioner Brakey stated.
The changes in petrol prices could be attributed to several factors, including lower international petrol prices due to decreased demand from major economic powers.
The price decrease could also be coupled with an increase in supply.
Geo-political events, such as conflicts in Ukraine and in the Middle East, also played a role in cooling down demand.
Additionally, central banks' interest rate hikes have contributed to this trend.
Domestically, factors such as a lower exchange rate, excise, wholesale goods and services taxes, and other wholesale and retail costs and margins have also impacted petrol prices.
According to Fuel Price Australia's real-time dashboard, the national average petrol price stands at 169 cents per litre.
Victoria and South Australia motorists could enjoy the cheapest petrol at 179 cents per litre.
Meanwhile, Northern Territory motorists face the highest prices at 218 cents per litre.
Savvy motorists also turned to fuel apps to find the best deals and when to fill their fuel tanks up with the best prices.
The Australasian Convenience and Petroleum Marketers Association reported that 41 per cent of customers have been using these kinds of apps last year alone.
Whether you're planning a road trip or need to fill up for your weekly activities, keeping an eye on petrol prices could lead to significant savings for your wallet.
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