Casey motorists are enjoying some welcome relief at the petrol bowser with prices as low as 79.9 cents per litre – which RACV says is “likely to continue to fall”.
In Melbourne, unleaded petrol prices hit a 17-year low on 4 May with prices averaging just 89.7 cents a litre as coronavirus restrictions force a reduction in demand for fuel, according to Commsec senior economist Ryan Felsman.
However, Mr Felsman said prices were close to “bottoming” with bowser prices expected to lift later this week.
On Wednesday 6 May, unleaded fuel prices were as low as 80.9 cents per litre in Cranbourne and 79.9 cents per litre in Berwick, according to the Petrol Spy website.
RACV senior vehicle engineer Nicholas Platt said Melbourne unleaded prices were currently trending down.
“The average price in Melbourne is 99.6cpl and most retailers in Berwick, Pakenham and Officer are selling for below $1/litre,” he said.
“Wholesale prices are the lowest RACV has seen in more than 16 years at 80.5c per litre, with these prices likely to continue to fall. There are currently no indicators that retail prices will spike with most retailers engaged in discounting on a daily basis.
“We recommend motorists use RACV’s online fuel price comparison tool to find the cheapest fuel locally and fill up now if possible.”
