News

Petrol Prices Fall In June

17.7.2001

The latest monthly petrol price monitoring figures from FuelTrac show a welcome drop in petrol prices across Australia during June.

 

Capital cities experienced the biggest falls with Perth leading the way with a drop of 9.3 cents and Canberra showing the smallest drop of 3.2 cents.

 

Capital city price movements in June

 

City

Average May

Average June

Monthly Movement

Sydney

97.3

89.7

- 7.6

Melbourne

93.3

87.2

- 6.1

Brisbane

87.3

78.5

- 8.8

Adelaide

97.1

91.4

- 5.7

Perth

98.1

88.8

- 9.3

Hobart

102.4

96.2

- 6.2

Darwin

105.8

99.5

- 6.3

Canberra

99.9

96.7

- 3.2

 

The Executive Director of the Australian Automobile Association, Lauchlan McIntosh, said the fall in prices was welcome and reflected a combination of lower world prices, and an improved Australian dollar.

 

"Generally country prices also fell by up to 7 cents a litre although prices did remain above the one-dollar mark in many centres," Mr. McIntosh said. "Once again we have seen substantial price variations in the capitals but fairly stable prices in country areas. This is clearly an indication that country motorists continue to miss out on the discount cycles."

 

 

Price variations during June

 

City

June Low

June High

Variation

Sydney

80.9

108.9

28.0

Melbourne

79.9

109.1

29.2

Brisbane

71.2

99.3

28.1

Adelaide

80.9

111.2

30.3

Perth

80.5

103.9

23.4

Hobart

91.9

108.7

16.8

Darwin

97.9

101.9

4.0

 

"AAA has provided a submission to the ACCC inquiry into price fluctuation. In that submission we have supported the ACCC suggestion that the deregulation program for the petroleum industry commenced in 1998 should be completed.

 

"It is clear from our on-going petrol price monitoring that genuine competition brings cheaper prices to motorists," Mr. McIntosh concluded.

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