In early April, comparison site comparethemarket.com.au revealed fuel prices had returned to lows not seen in nearly two decades, with the average fuel price in the country falling 11 cents per litre (cpl) in the March quarter.
Abigail Koch, household savings expert at comparethemarket.com.au, said motorists had seen price lows they last saw in the year 2000, with the March quarter averaging around 138cpl.
She said it was perfect timing as the coronavirus had put the squeeze on many household budgets.
“The start of the second quarter of 2020 has seen price lows across global crude oil, petrol and diesel, not seen in nearly two decades. This is due to demand slowing from the effects of COVID-19 and the oil price war between Saudi Arabia and Russia, two of the three biggest oil producers in the world,” Ms Koch said.
“Our analysis shows that petrol prices across the country have been falling, which is good news for motorists who are looking to save some cash during this unpredictable time.
“While the need for motorists to use their cars has drastically reduced, Aussies are still looking at where they can cut expenses now more than ever. We recommend motorists shop around for the cheapest petrol in their area and do their research while at home, to save wherever they can during this tough climate.”
However, the Australian Institute of Petroleum has revealed the average price of unleaded fuel jumped by 8.2 cents last week, the highest increase in 13 weeks.
But there’s still some good news, with NRMA spokesman Peter Khoury predicting prices would begin to drop again in Sydney, Melbourne and Brisbane.
He urged drivers in those cities to put off filling up for as long as possible to allow prices to fall further, but said motorists in the other capitals should “fill up now” to beat looming rises.
He said as of this morning, the average price in cents per litre for unleaded fuel was 92.2 in Adelaide, 105.5 in Canberra, 109.9 in Brisbane, 110.4 in Sydney, 110.8 in Darwin, 113.5 in Melbourne, 116.1 in Perth and 120.7 in Hobart.
Mr Khoury said motorists should always check the NRMA fuel app to find the best petrol price along their routes.