Petrol prices taking a dive

TEMPERATURES aren't the only thing dropping around Ipswich. Petrol prices are down as far as 25 cents per litre on peak prices.

RACQ executive manager of public policy Michael Roth said cut price unleaded petrol in Ipswich would probably continue to be available into next week.

"The global oil price is dropping, so the wholesale price is falling as well and retailers are passing that on," Mr Roth said. "I believe it's about $1.33 per litre of unleaded in Ipswich at the moment, and we certainly hope that figure continues to drop. It's possible there will be a small jump in prices at the end of this fuel cycle but petrol should go down to below $1.30 next week."

Mr Roth said the length of fuel cycles had become hard to predict, but still affected prices.

"There's no rules around cycles, but we're on day 13 of this cycle and we know there could be a small rise to $1.40 before we see prices start to go down again."

He said Ipswich motorists who needed to buy fuel urgently should now, but those who could wait should hold out for the drop.

"If a motorist needs to fill up now, definitely do so because prices will rise," Mr Roth said. "However, if motorists can wait out the rise they will probably pay less than $1.30 next week." The low price will probably continue for as long as global oil prices remain at a low.

Prices were about 25 cents per litre lower than peak prices recorded this year. "It would've been up to about $1.58 several months ago, so it's quite a significant change," he said.

The website motormouth.com.au recorded prices in Brisbane yesterday at $1.33 and $1.34, only a couple of cents more than Ipswich prices.

CHEAP FUEL SPOTS

IPSWICH: $1.329 per litre of ULP at Caltex Woolworths Yamanto and Booval, 7 Eleven Brassall before 8am yesterday morning, via MotorMouth.

SPRINGFIELD: $1.319at Caltex Woolworths Springfield at the same time.

SCENIC RIM: $1.289 at Shell Aratula, 9.34am yesterday.



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