Motorists could save hundreds of dollars a year, simply by choosing to fill up at low-priced petrol retailers, a new ACCC petrol report has found.
The ACCC report analyses average retail petrol prices throughout 2018, and compares the prices between high- and low-priced major petrol retailers in the eight Australian capital cities.
The annual average retail petrol price in 2018–19 was the highest in real terms (i.e. adjusted for inflation) in four years according to the ACCC’s latest report on the Australian petroleum market for June quarter 2019.
The east coast gas market is unlikely to experience a shortfall in 2020 but supply remains tight and more development and production is needed, the ACCC says in its seventh Gas Inquiry Report, released today.
The ACCC has found that a gas supply shortfall in the east coast gas market in 2020 is less likely than it was for 2019, mainly because east coast producers expect to produce more gas, about 113 PJ, than in 2019.
Average petrol prices in the five largest cities, Sydney, Melbourne, Brisbane, Adelaide and Perth, were at their lowest levels in more than two years during the March quarter but prices are trending upwards.
The ACCC has accepted a variation to an undertaking provided by Woolworths in 2013 relating to its shopper docket fuel discount offers, which changes how Woolworths can fund the discounts.
In 2013, after an investigation into the escalating shopper docket fuel discount offers, the ACCC accepted an undertaking from Woolworths to limit the size and scope of fuel discounts linked to supermarket purchases. The undertaking required these discounts to be funded only through Woolworths’ petrol division.
Petrol prices hit ten-year highs in October in Australia’s five largest cities but have fallen significantly since then, according to the ACCC’s latest petrol monitoring report for the September quarter 2018.