Falling fuel prices have been giving hard-travelling grey nomads something of a pre-Christmas budget boost … and it may not be over yet.
Queensland motoring body, the RACQ, says there could still be further falls, with global oil prices at their lowest since December 2008.
“They could go up at any time but we have our fingers crossed that prices will continue to fall particularly during this week before they go up,” said RACQ spokeswoman, Renee Smith. “We wouldn’t be surprised if we saw more service stations dropping their unleaded prices in the southeast closer down to that $1 a litre mark.”
In New South Wales, the NRMA says that Sydney fuel prices may be already be as low as they can go but prices in the regional areas might still come down further.
“There is a lot of oil on the market, leading to the fall in global prices,” said NRMA spokesman, Peter Khoury. “That coupled with the fact the Aussie dollar has remained pretty solid at 73c (to the $US) has led to prices where they are today.”
Oil had already fallen about 40% since Saudi Arabia led OPEC’s decision last year to keep pumping oil into the market, in a bid to defend its market share against Russia and the US.
* Have you been enjoying lower fuel prices where you are? Does the cost of fuel influence your travel plans? Comment below.
OTR in adelaide is not dropping their prices.$134.9 a ltr this afternoon where others stations are $117.
All a bit of a furphy really. Our fuel prices in Rutherglen Victoria, rarely fall below $129.9.