15
Apr

A year ago, the Fraser Coast had its lowest petrol prices in 15 years – here’s where prices stand now

This time last year, petrol prices on the Fraser Coast were plummeting towards the lowest they had been in about 15 years.

In April last year the monthly average prices were 116.7 cents per litre in Hervey Bay and 103.8 cents per litre in Maryborough.

Hervey Bay’s average price is currently 136.8 cents per litre for unleaded and Maryborough’s average is 131.9 cents per litre, RACQ spokeswoman Clare Hunter said.

The big difference was explained by the extraordinary events of last year, she said, including the pandemic.

“It’s important to remember this time last year fuel and oil markets were in the middle of the price collapse caused by the massive fall in demand because of the COVID lockdowns and the oil price war between Saudi Arabia and Russia,” Ms Hunter said.

Ms Hunter said looking at the current prices, there was a “significant difference between the two towns” given their proximity to each other.

“While Hervey Bay is 5 cents per litre dearer than Maryborough, fuel prices in Hervey Bay are cheap compared to the oil price and Terminal Gate Price, but in contrast Maryborough is exceptionally cheap,” she said.

“Maryborough’s market is more competitive than Hervey Bay’s as independent fuel stations like Metro, Puma and United lead the charge with exceptionally high levels of competition.

“Hervey Bay doesn’t have the same number or fuel retailers or variety, so there isn’t that super high level of competition in town, however a more usual level of competition in Hervey Bay means drivers are enjoying fair fuel prices.

Ms Hunter said the global oil price had softened, so over the next couple of weeks fuel prices were expected to come down.

She said the price drop was expected to filter into regional markets.

“Regardless of what’s impacting fuel prices globally, we all have the power in our hands to save at the bowser by taking advantage of the servos selling fuel cheaper,” Ms Hunter said.

“Use the apps and websites available, like RACQ’s Fair Fuel Finder, to look at the price reporting information and track down the cheapest deals in your area.

“This increases competition and ensures you’re filling up for the best possible price.”

Extracted from The Courier Mail