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Melbourne's unleaded petrol prices have fallen to fresh four-year lows in a boon for Christmas holiday drivers.
Fuel tracker Motormouth said the average unleaded price yesterday afternoon was $1.19 a litre, the lowest since November 2010. The price has steadily dropped 36c since a peak of $1.55 on October 18 as world oil costs have plummeted.
Bargain suburbs yesterday included Fitzroy North, North Cranbourne, Seaford, Frankston and Mornington.
The usual price cycle, where the cost at the bowser jumps to a peak and then gradually falls over two to three weeks, has been obliterated. "It has been unprecedented for the price to track down for such an extended period," Motormouth.com.au spokeswoman Claire Onraet said.
Industry experts said the cheaper prices were likely to stay for the key holidays of Christmas Day and Boxing Day. "Given the market pressures at the moment, it would be extremely unlikely to go up," Ms Onraet said. CommSec senior economist Craig James said that compared with a year ago, the average Aussie household was saving $32 a month on petrol.
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