According to the Herald Sun, drivers in Australia are finally waiting for a day when oil prices are falling.
One economist said drivers could finally save some money in the next two to three weeks and that the price of filling a 70-liter tank would be 10 yuan cheaper than before.
CommSec's Craig James said oil prices in Singapore, associated with Australian oil prices, have fallen 17 cents a litre over the past month, while wholesale unleaded gasoline prices have fallen 12 points so far.
The average Australian price per litre of unleaded gasoline fell 4.4 cents to 156.1 points over the past week, according to the Petroleum Institute of Australia.
"gasoline prices are just starting to fall, and a bigger drop will take place in the next two weeks. Compared with a month ago, the average driver would have reduced the cost of filling a 70-liter tank by $10. "
James also said it would take some time for retailers to respond to the drop in international oil prices.
New supplies will be shipped, and gas stations will have to sell more expensive gasoline and resell cheaper gasoline.
James said he believes Melbourne's oil price will drop to 1.40 yuan per litre, or even lower, once the low price of gasoline has a full impact. The highest oil price will also fall from a peak of 1.7 yuan a litre.
Fears that global economic growth will affect future gasoline supplies have led to a drop in international oil prices.
Saudi Arabia, the United States and Russia also have some additional supplies of crude oil.
Melbourne's average price for unleaded gasoline on Tuesday was 153.9 cents a litre, according to RACV.