Displaying items by tag: petrol prices

Cuts in oil production by the OPEC cartel and other big producers, combined with a pick-up in global fuel demand, led to higher petrol prices in Australia’s five largest capital cities in the March 2021 quarter, according to the latest petrol monitoring report from the ACCC.

Independent petrol retail chains Speedway, Metro Petroleum, United, Vibe and FuelXpress had the cheapest petrol in Australia’s eight capital cities in 2020, according to a new report by Australia’s competition watchdog.

Average petrol prices rose in the September quarter 2020 after a record low earlier in the year, but still remain well below the 15-year real average of 151.6 cents per litre (cpl), according to a new report from the competition watchdog, the ACCC.

Petrol retailers have been warned by the competition watchdog, the ACCC, that they should not use the current COVID 19 pandemic to further increase profits, and should pass on the full benefit of falling oil prices to motorists.