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Australia: ACCC urges motorists to fill up now before petrol price rise

By  |  January 5, 2017

The federal consumer watchdog is urging motorists to shop around and grab the cheapest petrol they see, with prices expected to jump in coming days.

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    But the average price for premium unleaded in NSW is already a staggeringly high 144.7 cents a litre.

    The Australian Competition and Consumer Commission said petrol prices would increase in the wake of the Organisation of Petroleum Exporting Countries’ agreement last month to cut oil production and with the Australian dollar falling against the greenback.

    Its analysis of petrol sales found that demand surges in the lead-up to Christmas and drops significantly afterwards. Demand then picks up again in late January.

    “Motorists are advised to consider purchasing now when petrol prices are relatively low or have not yet reached their peak, and not wait until they need to fill up,” ACCC chairman Rod Sims said.

    Full Content: The Sidney Morning Herald

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