NSW: Petrol prices fall further on cheap day
04 Nov 2008 5:04 PMNSW: Petrol prices fall further on cheap day
SYDNEY, Nov 4 AAP - Fuel prices across NSW today fell to levels not seenin a year, with new figures showing prices were slashed by an average of eight cents a litre across the country.
With Tuesday the lowest point of the weekly petrol price cycle, unleaded fuel prices in Sydney hit 122.9 cents per litre at 1pm (AEDT) today - a levelnot seen since last year.
Prices also fell in regional areas, with motorists paying 132 cents per litre at Port Macquarie and 142.9 at Grafton.
Data from the Australian Institute of Petroleum shows the average price of unleaded dropped eight cents across the country in the past week, down 8.9 cents to 140.1 in NSW.
In Sydney, the average price dropped 9.5 cents to 138.1, while the price inregional NSW dropped 7.6 cents to 144.8.
NRMA western Sydney director Gary Punch attributed the fall to the drop in world oil prices, a protest by a number of independent service stations in Sydney late last month, and lobbying by the NRMA.
He said the federal government needed to amend the Trade Practices Act to strengthen anti-collusion measures and protect independents.
"Prices at the end of last week, yesterday and today are what we should be able to expect," he told AAP.
"Prices should be continuing to lower given the international situation.
"Our point is we can't say that with any confidence.
"We are not going to get sustainable relief at the petrol pump unless the petrol market in Australia is made to be more competitive."
Mr Punch said a price of 122.9 had not been seen in NSW since last year.
But he said the disparity between metropolitan and regional NSW was still too great.
He said a gap of five to six cents per litre could be attributed to transport costs, but any more was too much.
"It's not as great as what it is usually, but it is still too much," he said.
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