Since the last petrol price hike in early December, we've seen an interesting period with both the average terminal gate price and the low petrol price over the festive period.
The average terminal gate price (think wholesale) continued to drop. Last time the average terminal gate price was 117.5 cents per litre for unleaded petrol, dropped to 111.7 on the 31st of December 2018 and as of today, has now floated up to 114.6.
Perhaps it's a coincidence, but the retail price of unleaded has remained low around the 110-113 mark for longer than would be expected, but the price is now increasing just as many people will be returning from their holiday break.
The price hike so far looks like the new peak price will be 139.9. That's around what would be expected as we've seen in the past the normal price jump is 25-30 cents above the average terminal gate price, and set at one of those retail price points ending in 4.9 or 9.9 cents, so 139.9 would be expected.
Over the next few days we can expect to see the price of petrol to peak for Melburnians. Time to start thinking about filling up the tanks. If you're using the 7 Eleven fuel app, wait a couple of days but keep a close eye on the prices around you, or where you drive (or public transport) to and lock in a low price for another week.
Kelvin Eldridge
https://www.PetrolPricesMelbourne.com.au
Update: 15 Jan 2019
Since the initial price jump of a small number of petrol stations on Wednesday the 9th of January, only around 20-30% of petrol stations have put up their prices. This is quite unusual, but does happen. This would suggest prices may go up towards the end of this week. Only time will tell.
The average terminal gate price (think wholesale) continued to drop. Last time the average terminal gate price was 117.5 cents per litre for unleaded petrol, dropped to 111.7 on the 31st of December 2018 and as of today, has now floated up to 114.6.
Perhaps it's a coincidence, but the retail price of unleaded has remained low around the 110-113 mark for longer than would be expected, but the price is now increasing just as many people will be returning from their holiday break.
The price hike so far looks like the new peak price will be 139.9. That's around what would be expected as we've seen in the past the normal price jump is 25-30 cents above the average terminal gate price, and set at one of those retail price points ending in 4.9 or 9.9 cents, so 139.9 would be expected.
Over the next few days we can expect to see the price of petrol to peak for Melburnians. Time to start thinking about filling up the tanks. If you're using the 7 Eleven fuel app, wait a couple of days but keep a close eye on the prices around you, or where you drive (or public transport) to and lock in a low price for another week.
Kelvin Eldridge
https://www.PetrolPricesMelbourne.com.au
Update: 15 Jan 2019
Since the initial price jump of a small number of petrol stations on Wednesday the 9th of January, only around 20-30% of petrol stations have put up their prices. This is quite unusual, but does happen. This would suggest prices may go up towards the end of this week. Only time will tell.
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