How to avoid paying more at the pump this summer

Geelong motorists can expect to pay more at the pump in the New Year, according to new data.

Geelong motorists can expect to pay more at the pump in the New Year, according to new data.

RACV data revealed prices across the city were averaging 117.1cpl and had been trending down for the last week.

But Senior vehicle engineer Nicholas Platt told the Geelong Advertiser consumers could expect to see a price rise after the holiday season.

“There are still a number of retailers at 130cpl or above, but the majority have fallen to approximately 110cpl,” he said.

Assuming the wholesale price, which is currently 107.5cpl, does not alter too much, we would expect prices to begin rising again in about a week, on or about the start of the new year.”

Mr Platt said assuming the 1.07cpl wholesale price didn’t alter too much, a price rise could be expected in roughly a week’s time.

“We’ve seen Geelong ‘s prices fall quickly as part of this fuel price cycle, so it is possible that we will see a stagnation of lower prices once we reach the bottom of the cycle as has happened in previous years,” she said.

“By contrast, Melbourne which is also in the discounting phase of the cycle, is reacting much more slowly, with average prices remaining around 129.9cpl.”

RACV recommended motorists fill up while prices are still low, and to use an online comparison tool to source the best fuel locally.

Originally published as How to avoid paying more at the pump this summer