I noticed around the 28th of August petrol prices in Melbourne had already started hiking to 147.9 cents per litre, then something unexpected happened. I started to see a second price group at 129.9 appear. Some petrol stations jumped to 147.9 whilst others hike their prices to 129.9.
At the moment there's really a lot of difference in prices around Melbourne from around 104.7 to 147.9. It really is worth shopping around when there's such a range of prices.
The price hike this month didn't wait to get down to the wholesale/gate price of 104.6 on the 28th of August. What I did notice was the petrol had dropped to around 108-110 cents per litre when the price hike started to occur.
A hike of around 40 cents per litre really is too much, but I can't help thinking the behaviour of the petrol industry long term will help to destroy their own industry. The more the petrol industry puts the public offside, the more likely people will more quickly move to electric cars. It won't be because they're cheaper, it will be because you don't have to put up with the silly petrol price cycle behaviour and ridiculous price hikes. Who knows, we may see one last push of low prices and no price hikes as the petrol industry gasps it's last breath, although sometime businesses in this situation charge more to keep their margins as they know, those who haven't moved probably won't for some time.
Kelvin Eldridge
www.PetrolPricesMelbourne.com.au
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