The price of oil is finally going down!
Australian car attendees, if your car needs refueling lately, don't worry! Oil prices are likely to keep falling!
Just two months ago, motorists across the country were at the boycott protest's soaring oil price. But recently, global oil prices plummeted and the Australian dollar soared, sending Australian oil prices into reverse and falling sharply.
NRMA spokesman Peter Khoury said prices were "falling sharply."
"We are in a very bad situation in 2018, but we have begun to see price changes in the past few weeks. You will see this change before Christmas. "
"prices will start a new change with Christmas. Oil prices will probably fall to about 129.5 cents a litre in Sydney, or about 116 cents a litre. Melbourne is 129.4, Brisbane is 131.4, Adelaide is 124.8. Oil prices everywhere continue to fall, but by different rates. "
That's different from last year, when oil prices usually go up before holidays and this year is good for us, Khoury said.
"the longer you wait, the cheaper the price is. At present, the cheapest in Sydney is 111 Australian cents of ordinary unleaded gasoline. But our advice is, if you want the leave state district, it's best to cheer up before you leave. Because the price of oil in the city is cheaper than in the country. "
Mark McKenzie, chief executive of the Association of Australian convenience stores and gasoline marketers at ACAPMA, said crude oil prices had risen steadily between July 2017 and October 2018, and gasoline prices had risen by at least 45 percent between July 2017 and October 2018, coupled with a fall in the Australian dollar.
"for us to see a sharp fall in November. Then we briefly soared in early December, and oil prices have been falling ever since. "
"Wholesale prices have fallen about 28 cents per litre since their peak in mid-October, so in the first week of December we saw oil prices fall in Sydney, Brisbane and Melbourne. The peak of this cycle is about 20 cents below the previous peak. "
In fact, not only consumers do not like high oil prices, retailers do not.
"during periods of high prices, fuel retailers usually lose money or pay a price. When fuel prices go up, people don't spend too much money shopping in nearby convenience stores, but this is actually the main source of profits. Only when oil prices fall will people be more willing to buy more in convenience stores. "
Retailers' costs, including electricity prices, rent and wages have been rising over the past five years, leading to an increase of about 1%, but much of the impact has been due to global oil prices.