Falling fuel bill brings smiles
NEW petrol stations and a drop in global oil prices have seen fuel prices in Townsville plunge over the past four months to some of the lowest levels since last December.
Since June, Townsville has been experiencing a steady decline in unleaded prices, which reached a low of 122c on August 13.
For the week ending on Sunday, the average price in Townsville was 125.1c.
That price is cheaper than what Brisbane drivers have been paying over the past month.
Australian Institute of Petroleum data revealed in the 40 weeks to September 17, prices peaked in Townsville at 144c a litre on January 22 after surging 14c from last December.
Yesterday the RACQ recorded the Puma Cluden Truckstop and Caltex at Castletown with unleaded fuel priced from 120.2c between 7.30am and 8am, which was better than the RACQ fair fuel price of 125c.
Economist Colin Dwyer said the entry of new Puma service stations and a drop in global oil prices had combined to drive bowser prices down in a more competitive market.
“Solid transparency in the marketplace through comparison websites and shopping around has been the best way to help each other with prices,” he said.
Louise Kammholz, who filled up at the United on Ingham Rd yesterday, said she had been paying an average of 124.9c in the past few months.
At peak prices, Ms Kammholz said it could cost more than $ 60 to fill up her car but that had dropped to just over $ 50.
“I’ve noticed prices have gone down in the last few months and that’s definitely a good thing, especially with the current economic climate and everyone trying to save money,” she said.
“I tend to fill up when my car starts beeping at the nearest petrol station but I do think when new service stations do come in and drop their prices, surrounding ones drop a few cents to try and compete.”
RACQ spokeswoman Renee Smith said too many times over the years petrol prices had been too high in Townsville.
Ms Smith said there was no way of knowing how long prices would remain low so motorists needed to support the stations with the cheapest prices.
“We’d love to see prices go down even further,” she said.