Melbourne’s fuel prices have dropped to just 96.9 cents per litre in an end of week treat after a wild seven days of news.
It’s been a hot minute since we’ve seen fuel below $1/litre, but if you’re located in Melbourne’s west, you could cop a cheap tank of petrol at Fitzgerald Road BP or Leaks Rd Caltex.
This is the lowest we’ve seen fuel in a while as the cost of crude oil absolutely plummets amid the coronavirus pandemic that’s currently wreaking havoc across the planet.
For context, other petrol stations across Melbourne were charging up to $1.59 in Kensington, depending on where you choose to fill up.
According to RACV’s price monitoring, you shouldn’t be paying more that $1.16 per litre, but if you’re willing to drive to Laverton North, you could be filling up for much less.
“The wholesale price of ULP is now 96.4 cents per litre, the lowest figure since February 2016,” RACV senior vehicle engineer Nicholas Platt told Herald Sun. “RACV believes there is no justification for prices to be above this level.”
“Two service stations in Laverton are currently selling ULP for 96.9 cents a litre, while across Melbourne 126 service stations are currently selling for just under $1.16.”
The ACCC (Australian Competition and Consumer Commission) said they’d be closely watching petrol prices amid the coronavirus pandemic to ensure reductions in crude oil prices are being passed on to customers in the form of cheaper fuel prices at the pump.
“We will be looking at the market very closely, to determine if further sustained reductions in international prices are being passed onto consumers, and we will be publicly identifying those retailers that are not passing on reductions,” ACCC chair Rod Sims said, according to Herald Sun.
“The ACCC cannot control the petrol prices companies set but we can call out problematic price setting which can influence company behaviour.”
I can’t imagine anyone will be driving too much in the coming weeks, but you could potentially cop an incredibly cheap tank of fuel to brighten your otherwise dull week of social distancing.
