News

July Petrol Prices Lowest In 16 Months

30.8.2001

The latest monthly petrol price monitoring from FuelTrac has revealed that July petrol prices in Australia were on average, the lowest since April last year.

Prices dropped substantially in virtually all centres in July. The only exceptions were Ballarat with a rise of 0.3 of a cent and Mt Isa with a rise of 1.3 cents.

The Executive Director of the Australian Automobile Association, Lauchlan McIntosh, said that considering the level of falls in prices in similar centres to Ballarat and Mt Isa, it was difficult to understand why prices should have risen.

"While prices went up slightly in Ballarat, in nearby Bendigo they fell by 5.5 cents in July. And in Longreach and Charleville in Queensland they fell by around 5 cents per litre while Mt Isa rose by 1.3 cents. It is clearly a matter the ACCC needs to investigate.

"The falls in July follow similar or larger falls in June and are the result of lower international oil prices. The other interesting and welcome development in July was that, generally speaking, country prices fell by more than city prices, reducing the city-country differential. Victoria was the exception where the city-country differential stayed the same or rose slightly in most centres. Again this is an issue the ACCC should address," Mr. McIntosh said.

 

Capital City Price Movements

City

Average June

Average July

Variation

Sydney

89.7

86.1

- 3.6

Melbourne

87.2

81.6

- 5.6

Brisbane

78.5

76.9

- 1.6

Adelaide

91.4

87.7

- 3.7

Perth

88.8

85.1

- 3.7

Hobart

96.2

93.0

- 3.2

Darwin

99.5

96.0

- 3.5

Canberra

96.7

88.8

- 7.9

Largest Price Movements by State

Location

Average June

Average July

Variation

Bathurst (NSW)

98.7

91.9

- 6.8

Yarrawonga (VIC)

97.9

91.1

- 6.8

Bowen (QLD)

96.9

88.9

- 8.0

Victor Harbour (SA)

98.9

91.3

- 7.6

Kalgoorlie (WA)

107.6

96.9

- 10.7

Wynyard (TAS)

99.1

92.5

- 6.6

Katherine (NT)

106.1

100.1

- 6.0

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