News

Petrol prices labelled 'highway robbery'

OIL prices have fallen to their lowest level since 2009, but petrol stations in the Fraser Coast are taking their time to drop the fuel prices.

Oil prices have dropped about 40% in the past six months and federal member for Hinkler Keith Pitt is urging major petrol retailers to drop their fuel price, to reduce household expenses over the holiday period.

But a spokeswoman for Woolworths petrol station said they will only drop their prices if other stations did so.

"We aren't a price setter in the fuel market. We follow the local market and if other stations drop the price, we follow suit," she said.

"We would follow the price of the closest petrol station to us."

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Calling it highway robbery, Mr Pitt said since crude oil plunged six months ago, the price at the petrol stations has only dropped a few cents.

He said bank forecasts for crude oil in 2015 have been slashed from $US98 to $US70, before an expected fall to a low of $US43 a barrel in the second quarter of next year.

"I urge the major fuel retailers to start passing these savings on to consumers now. The money is far better off in the pockets of local families, farmers and fishers," he said. "Australians drive vast distances over the summer holiday period. Any money they save at the pump can be spent in local businesses that employ local people."

RACQ executive manager public policy Michael Roth said fuel prices are coming down slower than expected as petrol stations are enjoying the profits but they will be expected to drop their prices to at least $1.30 for unleaded petrol and diesel over the next few weeks.

"This prediction is based on the falls in the global price of oil. When the wholesale price drops, the retail price should drop too," he said.

Mr Hinkler said if residents thought their local petrol station was not playing fair, they should lodge their complaint in writing with the Australian Competition and Consumer Commission.

Prices

November 

  • Unleaded petrol $1.45 (Hervey Bay), $1.43 (Maryborough)
  • Diesel $1.47 (Hervey Bay), $1.44 (Maryborough)

December 

  • Unleaded petrol $1.41 (Hervey Bay), $1.37 (Maryborough)
  • Diesel $1.43 (Hervey Bay), $1.39 (Maryborough)

Topics:  fuel, hervey bay, maryborough, petrol, prices



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