NEWS RELEASE
14 June 2001
Petrol Prices Rise In May Despite Stable World Oil Prices And
Rising Dollar
The latest national petrol price monitoring conducted by FuelTrac and released by the
Australian Automobile Association today shows an increase in prices in virtually all
centres during May.
AAA Communications Director, Greg Hunting, said the general increase was
surprising as world oil prices remained relatively stable during April / May and the
Australian dollar improved in value. Mr. Hunting said that with no external pressure on
prices it appeared Oil Companies had increased their profit margins during the month.
He said that of the capitals, Perth, Hobart and Darwin had the largest increases all of
over 4 cents, while prices actually fell slightly in Melbourne.
LOCATION
AVERAGE PRICE MAY
VARIATION FROM APRIL
Sydney
97.3
+ 1.4
Melbourne
93.3
- 0.8
Brisbane
87.3 *
+ 2.1
Adelaide
97.1
+ 0.6
Perth
98.1
+ 4.2
Hobart
102.4
+ 4.3
Darwin
105.8
+ 4.2
Canberra
99.9
+ 3.5
"The variation between lowest and highest price paid for petrol in each State again
highlights the fact that many country centres often miss out on discount cycles," Mr.
Hunting said.
Constituent Members
State
Monthly High
Monthly Low
Coonabarabran 113.6
Sydney 84.1
Swan Hill 107.9
Melbourne 85.0
Roma 104.9
Brisbane 77.9
SA
Coober Pedy 118.4
Adelaide 85.5
WA
Kalgoorlie 114.9
Perth 88.5
TAS
Ulverstone 104.9
Hobart 96.9
Tennant Creek 115.9
Darwin 104.7
NSW
VIC
QLD *
NT
* With 8.3 cent State subsidy
"When you compare the average city price with the minimum recorded city price you
get some idea of the enormous variations in price that exist.
"There is no doubt that price variations annoy motorists. This has been confirmed by
national polling conducted for AAA. We are therefore interested in a proposal from the
ACCC that daily price fluctuations be limited to three-cents per litre.
"We believe such a move would end huge weekend increases and the extreme highs
and lows that often occur over short periods. At the same time average prices should
not change. Our polling would suggest that this would be much more acceptable from
the point of view of motorists," he said.
* * * * *
Contact
Lauchlan McIntosh
AAA
0418 424 886