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Fuel price hits six-week low

By Matt Brogan |

Fuel prices have fallen to a six-week low thanks to oil cartel OPEC (Organisation of Petroleum Exporting Countries) deciding against another round of production cuts.

The Australian Institute of Petroleum says the national average price of regular unleaded (91 RON) petrol today stands at 118 cents per litre, a two cent fall on last week’s average.

It has further been predicted that petrol prices will fall another five cents per litre over the coming fortnight.


 
  • Twilight

    YAY!

  • adam (aka mada)

    The reality is, oil will once again start to rise and stay high in the long term.

  • sleepy

    prices are relative….

    why are relying on foreign oil when we got LPG?

  • http://www.caradvice.com.au Matt

    Let’s hope it stays low for the Easter long weekend… or is that just wishful thinking?

  • Yianni

    “sleepy Says:
    March 17th, 2009 at 1:37 pm

    prices are relative….

    why are relying on foreign oil when we got LPG?”

    Because there are only a handful of cars with factory LPG and others are too lazy to go out and convert their cars to LPG.

    Let’s not forget that LPG doesn’t really work well with a lot of cars, especially 4 cylinders.

    If more new cars came with factory LPG at a reasonable price then LPG would be more widely used.

  • Andrew

    Diesel in Brisbane is down to $1.00 in some areas

  • Andrew M

    Yianni,
    well considering that a large car on LPG is cheaper to run than a small car, why would you fuss about whether you can get your small car on LPG or not.

    And it cant be that hard if Hyundai can not only put a small car on LPG but also strap an electric motor to it aswell.

    Public perception is holding back LPG

  • Anthony

    LPG can be a good alternative… except for the fact that it is still too unreliable. Even with cars on dedicated LPG there are still heaps of problems with efficiency, backfiring and other issues… not to mention those cars with issues on filling the tank when the temperature is warm (i.e. can be anything above 25 degrees).

    Yes, the price is cheap, however it also is a finite resource.

  • Tim

    YAY, filled up 95RON for $1.06 today!

  • BK

    BP 98RON is my cup of tea.

  • Andrew M

    Never had an LPG powered car i guess???

    It explains your doubt for the product.

    heaps of problems with efficiency????
    it will halve your fuel bill!!!!!!

    Problems with backfiring?????
    says who????

    where have you read this garbage

  • Dan

    Yianni – “If more new cars came with factory LPG at a reasonable price then LPG would be more widely used.”

    Demand goes up. Prices go up. back to square one.

  • Andrew M

    Dan,
    well since we are actually burning it off and selling it to china for a few cents per litre i think we will have a little while before we worry about supply issues.

    Australia has far more reserves than we know what to do with, and anything that reduces the reliance on the OPEC prices the better

  • Dan

    Fair enough. But if all of a sudden everyone switches to LPG, the govt misses out on the fuel excise revenue, guess what they will tax? :)

  • Falcodore

    I think its next year the gov is going to start taxing the crap out of LPG, just after the rebates finish up. Funny, that :)

  • Dan

    LOL! Of course! :)

  • Andrew M

    Dan,
    starting from next year the government will start their phase in of excise on LPG.

    it out lines for 2.5c to be added each year for 5 years which will cap it at 12.5c.

    over that time further efficiency gains will/if not could be be made to cancel out that extra cost.

    its still gonna be a cheaper option

    The excise plan was originally planned to start a last year i think it was, but the delay of the excise convieniently coincided with the start of the LPG grants :)

    you gotta get em on it first :)

    same will happen with water tanks, mark my words.
    first they give you a rebate to get you to have them, now they are gonna charge you a tax for having them ha ha ha ha.
    and people say the government is stupid??????
    Nah, they know exactlly what they are doing

  • BK

    I dont know why would you wanna run your car on LPG when you can get much more kms from a tank of 98 RON than a tank of LPG. I dont see the point in tryin to save about 20 bucks a week on gas when 98 RON delivers the best of all the fuels available for our cars. I prefer quality all the time and my XR6 gets it every week in the tank.

  • john a

    um cheap fuel where?in darwin $1.34 a litre for pulp,i think you people in the great southland are very fortunate as yours goes down up here in the north ours goes up.politicians of both colours duck for cover when questioned why.

  • BK

    I put in 40 bucks worth of 98Ron today at $1.25 a litre compared to 91RON at $1.12. Whos a tight arse and put in LPG this week. What a joke of a fuel.