FUEL PRICES SET TO DROP
NRMA predicts a fall in fuel prices in coming weeks
WHO can remember the last time fuel dropped below a dollar?
In March last year, fuel prices in the Clarence Valley dropped below $1 but now, you’re more likely to see prices reaching as high as $1.40 per litre.
Each day, the Daily Examiner publishes fuel prices from around the Clarence Valley and, in the past week, petrol has cost about $1.40-50 per litre in the Lower Clarence and along the Pacific Highway, while fuel at Grafton and South Grafton has cost between $1.35-45 per litre.
However this is cheap in comparison to some of NSW major cities, as Sydney’s fuel prices hover between $1.40-55 for the last week.
NRMA spokesman Peter Khoury said regional centres like Grafton’s fuel prices were not as volatile
as cities like Sydney.
“Sydney is at the high point of their fuel price cycle,” he said.
“Grafton, however, is in the middle of the range, if not a little north of the regional NSW price range.”
On Saturday, unleaded and E10 prices in Grafton and South Grafton ranged from $1.37 to $1.39.
In the Maclean and Townsend area, prices were between $1.37 and $1.42 for unleaded and E10.
Yamba saw prices with a bigger range, with the Liberty on Yamba St having unleaded fuel costing 136.9 cents, while the Blue Dolphin Liberty had unleaded at 142.9 cents.
According to the NRMA, Sydney’s fuel prices work on a cycle, with their low point hitting two weeks ago when fuel was about $1.25. However regional cities like Grafton do not operate on the same cycle and have seen much more stable prices.
“The prices have remained stable over Christmas and new year, but they didn’t fall either,” Mr Khoury said.
“When we compare the prices with the global world oil prices and the Australian dollar, we think the price of fuel will go down.”
However, Mr Khoury said it was impossible to predict when that would happen because of how volatile the global oil market was, adding that it often changed hour to hour.
“Over the next week or
❝ Grafton, however, is in the middle of the range, if not a little north of the regional NSW price range. — Peter Khoury, NRMA
so, fuel prices should not go up, but they should also come down a bit,” he said.
Mr Khoury said the best thing for people to do was use the NSW Fuel Check app to find the cheapest fuel in their area.
MORE STABLE: Fuel prices.