Petrol prices

Unleaded petrol prices at two service stations at the intersection of Magill and Portrush roads varied between 119.9c a litre and 95.9c a litre yesterday morning - a difference of $17 on the cost of filling the tank of a family sedan.The RAA said three major retailers - Coles, Woolworths and On The Run - were increasing prices at selected service stations while other retailers were resisting a rise.We are encouraging motorists to shop around"A lot of motorists are unaware that wholesale petrol prices have increased in the past week and a half to 105c a litre - so a swing up to 119.9c is within the normal range of a price spike," RAA senior analyst Chris West said."We are encouraging motorists to shop around and fill up as three of the big four Adelaide retailers are raising prices."Motorist Sue Ryan said she was surprised at the variation in unleaded prices while filling up at the cheaper Coles outlet at the junction of Magill and Portrush roads."I'm glad I can still cash in on the cheaper price," Ms Ryan, 47, said. "I drive between Clearview and Meningie a couple of times a week so the cheaper price is a big saving."Mr West expects the next price dip as part of the discounting cycle will see prices fall to around the wholesale price and not below the $1 a litre available at many outlets for the past couple of weeks."We would love to say prices would fall to a similar price range but changes to oil prices will flow through to (higher) wholesale prices," he said.Today's unleaded price is averaging 102.5c a litre, with the cheapest at 94.7c at Costco in Kilburn and the dearest at 119.9c a litre at various outlets.You could see petrol prices continue within this price rangeMr West expects the oil price will stabilise and provide petrol prices at the lower end of the $1 a litre range in the longer term compared to the $1.50 paid late last year."It is hard to forecast a return to $1.50 a litre because of the dynamics of the oil market," he said. "But if the Saudi Arabians continue to maintain market share you could see petrol prices continue within this price range."Cost of unleaded petrol across Adelaide yesterday:Costco, Churchill Rd, Kilburn - 94.7c a litreColes Magill and Portrush roads, Payneham - 95.9cWoolworths, Hackney Rd, Hackney - 95.9cSeveral outlets - including On The Run at Portrush Rd, Payneham, and The Parade, Kensington, and BP at Henley Beach Rd, Mile End - 119.9c

Adelaide's average price for unleaded petrol was 99.9c a litre yesterday.

The plummeting prices come as an RACQ report shows 2014 was the most expensive year on record to fill up in Queensland.Costco at North Lakes yesterday was selling unleaded fuel for 99.7¢ a litre, the first time the price at the bowser had dipped below a dollar since early 2009.In Brisbane, the ULP average was $1.09 per litre, the lowest in more than five years.Make the most of the prices now because they can't last foreverPrices have been gradually forced down by a global oil glut caused by steady supplies, weakened economies and a drop in demand, particularly in Europe and Asia.But motorists have been warned the pump prices could flatline soon and eventually rise once the global market stabilises."We're just saying make the most of the prices now because they can't last forever," RACQ spokeswoman Renee Smith said."The worst thing you can do is wait until you're on empty to fill up. If you can get the lowest price, take advantage of it while you can." Long queues of motorists waited at Costco outlets at North Lakes and Mango Hill, where unleaded fuel sold for $1.02 per litre yesterday morning.The American retail giant only offers discounts to its membership, but Ms Smith said its price drop would put pressure on surrounding petrol stations.Brisbane's ULP average was $1.50 per litre, peaking at $1.65 per litre last JanuaryCostco opened its stores in the Brisbane area last year to take on other discount fuel retailers such as Coles and Woolworths.The company's Australian chief executive, Patrick Noone, said the success of these stores paved the way for expansion."We'd like to build a couple more stores in Brisbane in the south or southwest," he said."People are very happy. When you're working with very slim margins, you can offer these prices." Ms Smith said although southeast Queensland was enjoying the benefits at the bowser, regional motorists were still paying too much.Cities such as Cairns, Townsville and Rockhampton were paying about 5¢ a litre more.But that is still a stark contrast to last year's record high prices. RACQ's annual fuel price report shows Brisbane's ULP average was $1.50 per litre, peaking at $1.65 per litre last January.The average mark-up at city petrol stations was 10.2 per cent. Weipa motorists paid the highest price in the state at the pump, forking out $1.78 per litre for most of the year.

Many petrol retailers across Adelaide have increased their prices to more than 116c a litre - a jump of more than 10c - since late Saturday.RAA senior analyst Chris West said petrol stations began hiking prices yesterday morning and he expected most to follow by the end of today."Given how quickly the price has transitioned, it could be just 48 hours for prices to transfer from the lowest price to the highest price," he said.Adelaide had experienced a low price fuel cycle for more than two monthsHe said he expected about 75 per cent of retailers to reach the price peak by the end of today and prices may remain high until after Australia Day, next Monday, January 26."There might be a retailer that will buck the trend and try to undercut the competition - we hope there will be - but they may be hard to find," he said."It is not a good picture. The best people can do is get out and fill up before the majority of retailers have shifted." Mr West said Adelaide had experienced a low price fuel cycle for more than two months."A lot of people haven't seen a spike since November 13. It's been a long, long time and motorists have been enjoying good prices," he said."We were aware of a possible rise and it's happening. The spike appears to be happening at different points across the city."Retailers are trying to push the prices higher." Mr West said some service stations across the city raised prices as early as 8am yesterday and it was only a matter of time before the rest followed.The last peak was at 149c a litre in November last yearOn Saturday, the average daily price for unleaded petrol in Adelaide was 105c a litre - a low not seen since January 2009. The last peak was at 149c a litre in November last year.Petrol prices have been falling for the past 60 days, pushing the discounting cycle out to what the RAA says is a record.The prices were being kept down by a combination of falling crude oil costs due to low global demand, and a marketing battle involving new retailer Costco in Adelaide, the RAA said.MotorMouth managing director Alan Cadd said Adelaide petrol retailers could not sustain the low price and it was inevitable it would rise again. "We have been saying that this is likely to happen at some point, we just don't know when and we hope motorists have heeded our advice to keep their tanks full ... Motorists that have not topped up, do so as soon as possible."

Almost 100,000 Australians have joined the fight to further push down the cost of fuel, which has continued to drop since October after a fall in world oil prices and declining demand.The Big Cost of Living Switch campaign has succeeded in unlocking another group-discounted fuel offer for motorists starting today.The deal will provide customers with a 5 per cent discount off BP fuel cards and is valid for 12 months.One Big Switch campaign director Joel Gibson said while petrol prices varied nationally, it was great for motorists to enjoy lower prices in the past few months."It's been so high for so long so people are finally getting some relief," he said."But grocery prices have gone up 6.8 per cent in the past year so it's swings and roundabouts. This deal is a good opportunity for people to save 5 per cent on petrol." Customers can purchase the prepaid fuel cards for either $100 or $500 credit and enjoy a 5 per cent discount.The cards can be used at BP service stations for all fuel and in-store products. Petrol prices in Sydney, Melbourne and Adelaide have continued to fall and remain just above $1 a litre.But Mr Gibson said in some regional areas of Australia, motorists were still paying around $1.50 a litre.The Australian Institute of Petroleum found the national average price of petrol fell by 2.3c in the week to January 4 and the national average petrol price is 121.9c a litre.This is the lowest in more than four years.Australian Automobile Association's acting chief executive officer James Goodwin said while petrol prices had come down, motorists should look around for the best price. 'Consumers should look around and visit the motoring club website in their state to see where the lowest prices are," he said.

Petrol prices in some Sydney areas have fallen to under $1 a litre but motorists outside capital cities are paying an average 131.4c.With petrol in metro areas at a five-year-low, the federal government is concerned rural motorists are not benefiting from plunging global oil prices.Small Business Minister Bruce Billson yesterday said the disparity had led to concern from rural and regional residents about the "mysteries" of fuel pricing."It seems curious to me many Australians in rural areas are not yet reaping the benefits of these low prices," he said.Mr Billson said he wanted motorists to raise their concerns with the Australian Competition and Consumer Commission.The ACCC will monitor the prices, costs and profits of the petroleum industry for three years.Reports will be produced quarterly rather than annually and the commission will be able to look at specific regions and perceived irregularities in the fuel market.

Queensland Treasurer Tim Nicholls wants changes to the way fuel prices are monitored because Queenslanders pay up to 10¢ more a litre than other states.Mr Nicholls says he has written to the Commonwealth urging it to pressure the Australian Competition and Consumer Commission to change the way it monitors wholesale fuel pricing and investigate why prices are higher here."We are concerned that Queenslanders are getting a raw deal on fuel prices and we need an explanation of why drivers here are being forced to pay more for their petrol," Mr Nicholls said.Motorists rightly question why they pay more to fill their tank here than in some other states"We're asking for the ACCC to institute an in-depth review of petrol pricing, starting in Queensland and focusing on both metropolitan and north Queensland markets."It should also look at whether there are any impediments to fuel price competition in Queensland." But he would not commit to bringing back the 8.4¢ a litre fuel subsidy scrapped by the Bligh government.The Opposition also refused to commit to bringing back the subsidy but said something needed to be done to address bowser inequity."Motorists rightly question why they pay more to fill their tank here than in some other states," an Opposition spokesman said. "What won't help is Tony Abbott's fuel tax, which he didn't tell anyone about prior to the last federal election." Across southeast Queensland, fuel prices have hit a four-year low - with the average price of unleaded in Brisbane yesterday sitting at $1.19 a litre, down 30¢ a litre on the same time last year.However motorists are still paying much more than in other states - $1.13 in Sydney and Melbourne and $1.10 in Adelaide.General manager of monitoring group FUELtrac, Geoff Trotter, said the dominance of Coles and Woolworths outlets was "pretty strong and they have chosen not to go as low as they have had to in other states".That had been exacerbated by the purchase of independent chains Matilda, Neumann and Choice by the global Puma Energy company, he said."You have what look like independents in Brisbane but they are owned by one large group which does not discount anywhere near as aggressively as when they were small independent groups." Puma declined to comment.In his letter to Federal Small Business Minister Bruce Billson, Mr Nicholls says the Government has concerns about the timing of cuts to the oil price being passed on to Queenslanders.Mr Nicholls said following the letter, Mr Billson had issued a directive to the ACCC to step up its monitoring. But he said he would continue lobbying to ensure the ACCC acted quickly.

Sydney motorists will enjoy the cheapest Christmas petrol prices in five years, with fuel expected to drop as low as $1.10 a litre this week.

Melbourne's unleaded petrol prices have fallen to fresh four-year lows in a boon for Christmas holiday drivers.

Senator Ricky Muir has slammed the Federal Government's plan to raise the tax on fuel and says motorists shouldn't be underwriting the rest of the economy.The Federal Government yesterday announced it would raise fuel excise by indexing it to inflation, adding between $10 and $16 (from a Toyota Corolla to a Ford Territory) to the price of the average yearly fuel bill.But Senator Muir says the tax hike is a broken promise and should be reversed immediately. "Whatever happened to 'no new tax under a government I lead'?" said Senator Muir. "The Senate rejected fuel tax indexation because, I believe, it listened to the people of Australia, and the government is supposed to represent the will of the people."Senator Muir is also concerned about how little revenue from fuel tax is funnelled back into roads. Of the $14.9 billion raised in fuel tax last financial year, just $5.4 billion was spent on roads. Of the forecast $15.2 billion in fuel tax revenue this financial year, just $4.8 billion will be spent on roads."Rather than introduce indexation, there should be a guarantee that a certain percentage should be spent on roads," said Senator Muir. "The motorist already pays dearly, they shouldn't have to subsidise other areas of the economy. Most of the money raised from fuel excise goes into consolidated revenue and that's not fair." The fuel tax increase is due to come into force on November 10.If the bill is rejected later, the extra money raised could go back to the fuel suppliers. "If there is a way to stop it we will," said Senator Muir, who also warned the Abbott Government that the fuel tax issue would likely sour the already rocky relationship with the Senate."This is not a positive step in gaining the confidence in the Senate," he said.