News

No Fuel Price Rises Over Easter

31.3.2010

Australia’s peak motoring organisation, the Australian Automobile Association, today warned fuel retailers not to increase prices in the run up to and over the Easter weekend.

AAA, which represents Australia’s motoring clubs and more than 6.5 million motoring members, said petrol prices should not rise this week by more than the normal cyclical rise – highlighting the fact that benchmark Singapore and terminal gate prices largely remained static over the past week.

AAA Chief Executive, Mike Harris, noted that the price cycle had remained fairly stable through the first part of the Easter week compared to previous weeks, but urged motorists to fill up prior to the weekend just in case prices did spike.

“Prices did not rise over the Christmas-New Year period and we would expect that will be the same over Easter, in line with the fact commodity and production prices have been the same over the past week,” Mr Harris said.

“Lately, prices have been jumping some 10 to 12 cents per litre (cpl) on Friday in Sydney, Melbourne, Brisbane and Adelaide due to the pricing cycle, so such a rise this week would be in line with recent weeks.

“But AAA and the motoring clubs believe motorists should fill up over the next couple of days just in case there is a spike over the Easter weekend.”

“AAA and the clubs will monitor prices over the weekend and, if there appears to be some abnormally high prices, we will be reporting that to the ACCC.

“Motorists should not be slugged at the bowser because they want to take their family away for the long weekend.”

The national average retail petrol price last week was unchanged at 129.1cpl, with diesel falling 0.6 cents to 128.4cpl.

 

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