Petrol headed for $1 a litre

[Evolution_Ends_Here]

Petrol prices have fallen significantly for the second time in a fortnight, reaching a 12-month low.
The national average price of unleaded petrol is now $1.33 a litre, the Australian Institute of Petroleum says.
That's a drop of 6.7 cents in the past week.
CommSec chief equities economist Craig James has suggested the price could fall to a dollar a litre.
"Just a month ago, thoughts of petrol at $1 a litre would have been pure fantasy. But no longer," Mr James said in a weekly market briefing.
He also pointed out the apparent weakness of Western Australia's FuelWatch scheme, which the federal government wants to roll out nationally.
"The Sydney petrol price stood at $1.31 in the latest week, the second straight week it has been below the Perth price ($1.33 last week) despite the price monitoring scheme in place in Perth."
The Senate could vote on the government's plan to introduce FuelWatch nationally as early as tonight, but is likely to reject the scheme.
Mr James' rosy outlook may change if the oil cartel, Organisation for Petroleum Exporting Countries (OPEC), goes ahead with a second production cut before Christmas.
World oil prices rose higher in Asian trade today after OPEC failed to rule out another cut following on from its November slow down.
At an emergency meeting in Vienna last month, the cartel agreed to reduce output by 1.5 million barrels a day to 27.3 million bpd in a bid to prevent prices falling further.
The main contract in New York, light sweet crude for December delivery, jumped $US2.52 ($3.68) to $US63.56 ($92.90) a barrel this afternoon.

Just read this just now , It gr8 news if this actually did happen, i'm not going hold my breath on this through , i debt it will ever go back to $1/l again , by the time it tries to be @ the prince, something will make it go up again.


I DON'T KNOW IF this is repost/ if it is Delete/Close It.

[Shifty1]

well.. earlier i saw E10 goin for $1.19 and regular unleaded @ $1.23.. its possible.. not likely.. but possible..

[Abrowne70]

just filled up for $1.10 in Adelaide. Loving it

[wingwang99]

What's bs is that petrol has come down about 20c/L but lpg has remained exactly the same...

[nicko]

What's bs is that petrol has come down about 20c/L but lpg has remained exactly the same...

Dam, so that family BBQ i have planned is still going to cost an arm and a leg

[mischa]

lol, im so laughing at LPG people now!!!! (yes im talking to you haydz!)

[Farlig]

even funnier that people believe unleaded, diesel, lpg should all fall and rise at EXACTLY the same rates. never seen the same truck deliever unleaded and lpg from the same tanker lol.

[vnv8driver]

Noone is or can complain about the price of lpg as its always been cheap as chips. The only fuel we have been getting ripped off is petroleum & diesel... which im quite happy with the price of petrol now (1.19 a litre in QLD) ...dont know or care about diesel but would imagine its come down as well?

[seannatt]

bull**** we still paying like 1.50 a litre up here in NT its bull****.

[CSP]

bull**** we still paying like 1.50 a litre up here in NT its bull****.

Move back to civilisation...

[And_ROOS]

I was seeing it for 1.23 in Mornington this morning.

[VXdarkmagic]

I saw $1.32 for premium just the other day, i haven't seen it that low for at least 2 yrs

[TUF UTE]

servos got in **** for selling fuel 30+ cents over what they were allowed to sell it .... thats why its dropped

[Lumps of cheese]

Wouldn't want it to drop too much further, then everyone will whinge to the cows come home when it jumps back up again.

[Cobez]

I filled up on saturday with BP Ultimate for 1.36 a litre at BP in Ferntree Gully. Not too shabby for saturday petrol prices if you ask me!

[1991_Vn2nV]

just filled up for $1.10 in Adelaide. Loving it

Did you fill up at a Mobil? So far its only us that i've seen at 110.9cpl here in Adelaide, most others are up around 117.9 and 118.9.

[SAV_117]

yeah i havent seen it for a 1:10

[MY_95_VS]

The recent price drops at "big name" servos are the result of pressure on the servos from the govt dept IPART which handles things like electricity gas and water rates, and also the pressure from "family" owned servos in sydney selling fuel for 99c/l a couple of times a week. I got some the other day. My wallet hasn't been this happy in over 5 years!!!

It's finally the price it should be (around $1.10 - $1.20) and not this bullS#!t prices of over $1.60/l for regular unleaded. Hopefully with rising competition the prices will drop even further in the near future as petrol becomes a "competetive" market sector again.

So to the guys and gals stickin it to the big profit supermarket based fuel companies DOUBLE THUMBS UP!!!
You guys are the true Aussie heroes at the moment!!!

[1991_Vn2nV]

^^ I think you're kidding yourself if you think family owned service stations are 'pressuring' the big service stations, or even a government department lol

Those servo's selling fuel at 99cpl were losing huge money. Im sure the big name servo's really cared Don't forget that these 'family owned' service stations are often just buying the petrol from Mobil, Shell and BP anyway so it makes jack all difference to them.

[Emackulation]

Dyan should syphon a litre a day and store it all, then sell it. Win/Win.

[Grennan]

Wouldn't want it to drop too much further, then everyone will whinge to the cows come home when it jumps back up again.

Bingo. We have a winner.

[VT-565]

even funnier that people believe unleaded, diesel, lpg should all fall and rise at EXACTLY the same rates. never seen the same truck deliever unleaded and lpg from the same tanker lol.

The same truck delivers redhead matches and cigarette lighters, too.

[VS_Pete_1]

I just paid $125.9 for Vortex98 in brisbane.

[vnv8driver]

1 dollar 10 a litre is possible with a fuiel copupon wouldnt it?? duel is 1.18 today, gotta be able to save 8 cents a litre through some mob? or maybe it was an ethanol blend.

[LightningVP]

Last night Shell was 1.21 (or 1.17 with discount)