Share and Follow
NRMA spokesperson Peter Khoury told 9news.com.au that petrol prices have fallen to levels not seen in months.
“Oil prices were climbing a couple of weeks ago, but in the last 24 hours have fallen back to levels we haven’t seen since the horrific decision by Russia to invade Ukraine,” he said.
Mogas, the international benchmark price for oil, is currently trading at US$86 a barrel.
In comparison, during the record-breaking prices in June where unleaded cost up to $2.20 a litre, Mogas was trading at US$160 a barrel.
This means oil prices are now nearly half of what they were in June.
Khoury said now is the best time to fill up in Sydney when the retail price is sitting around $1.69 and the same in Adelaide where unleaded is sitting at $1.66.
Good news for Melbourne as unleaded is sitting at $1.71 and Brisbane is at $1.70.
Read Related Also: Young mother on maternity leave could be forced to return to work early after interest rates soar
In the other capitals, Hobart is $1.89, Darwin is $1.83, and Canberra is $1.84.
Khoury said the capitals sitting above $1.70 should wait to fill up as there is still some falling to do in prices at the bowser.
But petrol prices may not stay this low for long.
“In the last 10 days, we have seen oil prices heading in the right direction but we’ve been fooled before,” he said.
“We’re not even confident predicting between now and Christmas.”
Road rule error that could sting 4WD owners dressing bullbars in tinsel
