Cheap fuel welcome and may fall further
FAR Northern motorists could be set for an even bigger drop in petrol prices in coming weeks as the oil price slides globally.
Drivers have been able to fill up for around the dollar mark in Cairns this week with United Petrol at Woree posting fuel for 99.9 cpl yesterday.
RACQ spokeswoman Renee Smith said the organisation hoped unleaded prices in Cairns would fall into the mid-90cpl range.
“Given the current oil price, Singapore price, and average Cairns terminal gate price, a retail ULP price of 96cpl reasonable,” Ms Smith said.
“While the cheapest sites in Cairns have dropped below the $1 mark, we expect prices will continue to fall in the next few weeks, and hope to see some retailers selling for 96cpl or less. It is difficult to say if the is
Caltex Draper St 117.9
Puma Portsmith 117.9
United Sheridan St 118.9
Puma Draper St 118.9
Mobil Cairns North 123.9
Coles Express Sheridan St 115.9 United Petrol Koah 118.9
(from RACQ Fair Fuel app) retail prices will fall much further than the mid-90cpl range, as this would require further falls in the oil price.
“The oil price is exceptionally low due to the collapse in demand caused by COVID-19, the Russia/Saudi oil price war, and if the current situation persists oil could fall further.
“However, with restrictions being eased in Asia, demand for fuel and therefore oil could pick up, which will push up the oil price.”
Ms Smith urged Cairns drivers to use apps like RACQ’s Fair Fuel Finder to find the cheapest fuel near them, saving them money and the need to drive around.
For marine mechanic Kristen Pearce, the recent low fuel prices have brought some welcome savings to her budget.
Ms Pearce commutes from Gordonvale into Cairns for work daily and said she was saving about $10 a week on petrol costs.
“I have never seen the prices this low,” she said. “I hope it lasts for a while. No one wants the prices the go up.
“It would be good if they stayed low, it’d be easier for those using watercraft too and people using boats.”
RACQ also warns those planning a scenic drive this weekend to be on the lookout for animals.
May is the start of animal strike season, as cooler weather sets in and wildlife seek food and warmth on rural roads.
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