Petrol Prices up 25 Percent in the Past Year
The Australian Automobile Association has released the latest monthly petrol price monitoring figures, which show a continued increase in fuel prices in September across Australia.
The figures show that of the 91 centres monitored (excluding Queensland where motorists benefit from an 8.3-cent per litre State Government rebate), only 18 failed to reach $1 per litre for unleaded fuel. They also show that motorists paid between 17 and 20 cents per litre more for unleaded fuel in September than they did twelve months ago.
AAA Executive Director, Lauchlan McIntosh, said that this was an increase of around 25 percent in fuel prices in just 12 months and once again highlighted the urgent need for the Federal Government to provide relief to motorists by freezing excise in February.
"The huge jump in prices also highlights the need to end the indexation of petrol," he said. "Price rises of this nature feed into the inflationary chain, compounding their already negative impact on Australian households."
The AAA has also examined petrol price figures for the 3 months preceding the GST and petrol grant scheme introduction, and the three months since to see whether or not motorists were receiving the benefit of the one and two cent per litre grant.
Mr. McIntosh said that the analysis showed that the variation between city and country prices had not increased in most centres. He said this would indicate that the grant was being passed on to motorists. Of the 100 non-metropolitan towns and cities monitored, only nine showed an increase in the price gap with their capital city of point-five of a cent or more.
These centres were, in NSW, Albury (+ 1.6 cents); Berry (+ 0.6 cents); and Narrabri (+ 1.6 cents); in Victoria, Portland (+3.1 cents); and Warrnambool (+ 0.5 cents); In Queensland, Warwick (+ 0.8 cents); In Tasmania, Launceston (+ 0.8 cents); and George Town (+ 2.7 cents); and in the Northern Territory, Katherine (+1.0 cent).
"The fact that the gap in prices between these centres and their respective capital cities has increased is of serious concern. Taken at face value it would seem to indicate that either the petrol grant is not being passed on to motorists in full or the grant is not adequate in those centres," Mr. McIntosh said.
"We would hope this matter will be addressed by the ACCC when it releases its long awaited report on petrol," he concluded.