Travelling families to get Australia Day relief at the bowser
Families making the most of the Australia Day long weekend will enjoy some much needed relief as petrol prices are expected to fall in Sydney and across regional NSW.
An oversupply of oil on the Asian market has seen Australia's international benchmark price – Singapore Mogas – fall from US$77.5 a barrel to US$70.3 a barrel, the lowest in 2.5 months. Falls of up to four cents per litre on average should flow through to Australia in the coming weeks.
Prices are falling in Sydney in accordance with the fuel cycle and are expected to drop to around 132 cents per litre (CPL) for regular unleaded over the next two weeks. Average prices across regional centres could also fall by as much as three cents per litre.
The average price in Sydney today is 148.9 CPL for regular unleaded and is falling around two cents per day. The gap between the cheapest (128.7 CPL) and most expensive (173.9 CPL) service stations in Sydney is currently 45 CPL.
Government, business and community groups are united behind a call for Australians and international visitors to enjoy a holiday in parts of the state affected by fires and drought, so the current falls in petrol prices are most timely.
NRMA spokesperson Peter Khoury said average prices in Sydney have fallen over 15 cents per litre in the last week with more falls to follow, offering families another incentive to pack the car for the long weekend.
"Families could save on average $10 a litre on a tank of petrol and that is money that could be spent on a timely holiday in a regional or coastal centre rebuilding after the bushfires," Mr Khoury said.
"There is a broad push to encourage people to get in the car and take a holiday, including the Australian Government's $76 million commitment for a domestic tourism campaign, and the NRMA strongly supports these efforts.
"Both world oil prices and the Sydney price cycle are working in our favour here in NSW and every cent saved at the bowser could be spent on a holiday, thus helping local communities impacted by bushfire and drought to rebuild."
The NRMA will kick off its centenary celebrations next month, with an NRMA road trip focus on supporting regional communities affected by bushfire and drought. The celebration will include a family festival tour targeting regional areas.
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