New data reveals fuel prices continue to plummet amid coronavirus outbreak
Petrol prices have plummeted again as the coronavirus spread causes a crude oil glut, with new data revealing which Melbourne motorists are getting the best deal. SEE THE CHEAPEST SUBURBS
Wyndham Leader
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Motorists are still feeling some relief at the bowser, with the coronavirus outbreak causing crude oil prices to plummet.
New data from comparethemarket.com.au reveals motorists were last month paid an average of 139c at the bowser – 12c less than the previous quarter.
The data revealed Darebin North was the subregion with the lowest price over the quarter at 135c, while the Nillumbik-Kinglake subregion had the most expensive fuel at 145c.
As of Monday morning, the cheapest Melbourne suburb for petrol was Moorabbin Airport, with an average of 89c.
Household savings expert Abigail Koch said the analysis showed petrol prices across the country had been falling.
“While the need for motorists to use their cars has drastically reduced, Aussies are still looking at where they can cut expenses now more than ever,” Ms Koch said.
“We recommend motorists shop around for the cheapest petrol in their area and do their research while at home, to save wherever they can during this tough climate.”
RACV senior vehicle engineer Nicholas Platt said earlier this month the drop in demand and subsequent oversupply had seen the wholesale price of petrol in Australia fall to its lowest level since February last year.
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“This has led to an unlikely benefit for motorists with the average price of unleaded petrol in Melbourne currently selling for just over $1.27 per litre, the lowest price so far this year,” Mr Platt said.
“While these prices are low, RACV believes that there is still sufficient margin for retailers to maintain these prices and no reason for prices to suddenly sky rocket.”