Sydney average gasoline prices fell to A $1.33 a litre yesterday. (photo by Sydney Morning Herald)
After a tough year, Sydney's oil prices finally fell 8 cents last week, the biggest drop in a decade, the Sydney Morning Herald reported.
Sydney's average gasoline price fell to A $1.33 a litre yesterday, well below last month's average A $1.65 a litre. At that time, the average Australian gasoline price also reached its highest level since 2008.
Kuli (Peter Khoury), a (NRMA) spokesman for the National Association of cars and drivers, said prices are expected to continue to fall in the next few days.
"Wholesale (gasoline) prices in Sydney have now fallen to a six-month low of about A $1.22 or A $1.23 per litre. In view of this, there is no doubt that the average price of gasoline should continue to fall, at least in the next few days. " "after a very difficult year, we finally got some relief in front of the tanker," he said.
One of the reasons drivers unexpectedly reduced their travel costs was the recent collapse in international crude oil prices.
Last night, ethanol 94 (E10) was priced at A $1.20 a litre at several gas stations in Granville, western Sydney. In (Rozelle), close to Sydney's CBD, the price of the same gas at some gas stations fell to A $1.26 a litre.
"We expect regular unleaded gasoline at more and more gas stations to fall below A $1.30 in the next few days," Kuli said.
Kuli also said that despite the regular cycle, [gasoline] prices will eventually rebound. But even at a high peak, "it's not going to be close to our previous levels." He expects Christmas to hit a six-month low.
"We're starting to see prices that we haven't seen much of 2018."