By JONATHON HOWARD
NOOSA motorists are enjoying record low petrol prices and the timing could not have been better.
The fuel gauge will linger at the top a little longer as families juggle their finances and routines switch to driving around for last minute gift ideas.
The cheapest prices for unleaded around Noosa was at United Coolum on Monday, 15 December, which was 124.7cents per litre for unleaded.
Matilda Junction was also offering unleaded E10 at 121.9cents per litre and 136.9cents per litre for diesel.
The falling fuel prices have stemmed from a decline in global crude oil demand, which has seen barrel prices plummet to their lowest levels since 2009.
Oil prices have dropped about 40 per cent in the past six months and federal politicians have urged major petrol retailers to drop their fuel prices further to reduce household expenses over the Christmas period.
But a spokeswoman for Woolworths petrol station said they would only go further down if other stations did so.
“We aren’t a price setter in the fuel market.
“We follow the local market and if other stations drop the price, we follow suit,” she said.
“We would follow the price of the closest petrol station to us.”
However, bank forecasts for crude oil in 2015 have been slashed from $US98 to $US70, before an expected fall to a low of $US43 a barrel in the second quarter of next year.
RACQ executive manager public policy Michael Roth said fuel prices were coming down slower than expected as petrol stations are enjoying the profits but they will be expected to drop their prices to at least $1.30 for unleaded petrol and diesel over the next few weeks.
“This prediction is based on the falls in the global price of oil. When the wholesale price drops, the retail price should drop too,” he said.
YOUR THOUGHTS: Where’s your pick for cheap fuel around Noosa? Send your comments or letters to newsdesk@noosatoday.net.au
