RACV urges motorists to get the best deal with variations in price up to $50c per litre
The global coronavirus crisis continues to push fuel prices down, but the cost at the bowser is fluctuating by about 50c per litre at Melbourne’s petrol stations. Here’s where to fill up your tank on the cheap.
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Motorists are being urged to shop around to get the best deal at the bowser, with petrol prices varying up to 50c per litre.
Unleaded fuel prices at Attwell’s Tyre & Front End Service were at $160, compared to United Kensington at $116.9 as of Thursday at 1pm.
The price of ethanol E10 has continued to plummet with United Kensington dropping its price to $112.9 and United Fitzroy at $113.7.
United Cranbourne South ethanol E10 was at $114, while Linden Auto Box Hill South was at $129.9.
New RACV data revealed last week world crude oil prices tumbled following a downturn in manufacturing and global air travel in the wake of the coronavirus spread.
RACV Senior Vehicle Engineer Nicholas Platt said the latest data showed the largest continual price reduction phase that RACV had ever recorded in its long history of fuel price analysis.
Mr Platt said since fuel retail was so competitive and price sensitive, prices are often clustered within a few cents between retailers.
“At the moment, 80 per cent of fuel retailers are selling for $1.20 or below but we are seeing variations between stations of up to 50c per litre.”
“The drop in demand, and subsequent oversupply, has seen the wholesale price of petrol in Australia fall to its lowest level since February last year
“This fall has led to an unlikely benefit for motorists with the lowest price of unleaded petrol currently selling for just over $1.15 per litre.”
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Mr Platt said the best way for Victorian motorists to make sure they were getting the cheapest petrol prices was to use a comparison app or website, such as the RACV fuel finder.
“If prices are high top-up and wait for them to fall before filling up.”
Source: petrolspy.com.au