Common retail petrol costs had been considerably decrease within the September quarter 2024, in keeping with the ACCC’s newest quarterly petrol monitoring report.
Within the September quarter 2024, common retail petrol costs throughout the 5 largest cities (Sydney, Melbourne, Brisbane, Adelaide and Perth) had been 182.8 cents per litre (cpl), a lower of 13.7 cpl from the June quarter 2024.
“Decrease petrol costs within the September quarter provided some value of dwelling reduction to motorists across the nation,” ACCC Commissioner Anna Brakey stated.
The next chart reveals seven-day rolling common retail petrol costs throughout the 5 largest cities from October 2022 to September 2024. Within the September quarter 2024, decrease worldwide refined petrol benchmark costs had been the principle driver of decrease common retail petrol costs throughout the 5 largest cities.
Seven-day rolling common retail petrol costs throughout the 5 largest cities in nominal phrases
Supply: ACCC calculations based mostly on knowledge from FUELtrac and Knowledgeable Sources.
Notes: The gray shaded space within the chart represents the September quarter 2024.
A seven-day rolling common value is the common of the present day’s value and costs on the six earlier days.
Quarterly common retail costs decreased in all 5 largest cities within the September quarter 2024. Of the biggest cities, common petrol costs decreased probably the most in Brisbane (by 16.8 cpl), with common costs in Perth reducing the least (by 8.9 cpl).
Quarterly common retail petrol costs additionally decreased in Canberra, Hobart and Darwin. Common costs in Darwin had been 176.4 cpl, the bottom amongst all eight capital cities.
“Whereas motorists have had some value reduction in latest months, we proceed to encourage utilizing a gas value app or web site to verify for a decrease priced retailer close to you earlier than filling up,” Ms Brakey stated.
The ACCC additionally publishes updated value charts, shopping for ideas, and knowledge on actions within the petrol value cycles that happen in Sydney, Melbourne, Brisbane, Adelaide and Perth, which might be useful for shoppers.
“We all know petrol value cycles might be irritating for motorists, notably the longer cycles skilled in Sydney, Melbourne and Brisbane. The place potential, making the most of the low factors of the cycle, even by topping up half a tank, could be a good strategy to profit from decrease costs in your space,” Ms Brakey stated.
Decrease crude oil and worldwide refined petrol costs mirrored easing oil demand
Worldwide refined petrol costs (that are pushed by worldwide crude oil costs) and the AUD–USD change charge, largely decide actions in retail petrol costs in Australia. The biggest part of retail petrol costs within the quarter was the worldwide value of refined petrol (Mogas 95).
“Retail petrol costs in Australia usually observe worldwide refined petrol costs, which trended downward within the September quarter 2024,” Ms Brakey stated.
Decrease crude oil costs within the quarter had been influenced by slowing oil demand in China along with will increase in oil provide from producers exterior of the Organisation of the Petroleum Exporting International locations.
Different parts of retail costs embody taxes, wholesale prices and margins, and retail prices and margins (measured by gross indicative retail variations). Common gross indicative retail variations throughout the 5 largest cities in mixture had been 15.6 cpl within the quarter, a lower of 1.6 cpl from the earlier quarter. Gross indicative retail variations are a broad indicator of gross retail margins, together with each retail working prices and earnings.
Regional retail petrol costs additionally decreased on common
The ACCC displays gas costs in all capital cities and over 190 regional places throughout Australia. Within the September quarter 2024, common regional retail petrol costs had been 187.5 cpl, a lower of 9.9 cpl from the June quarter 2024.
On common, regional retail costs throughout all places had been 4.7 cpl greater than costs throughout the 5 largest cities (182.8 cpl).
Diesel costs had been decrease in all capital cities
Quarterly common retail diesel costs throughout the 5 largest cities had been 185.5 cpl within the September quarter 2024, a lower of 9.0 cpl from the June quarter 2024 (194.5 cpl).
Quarterly common retail diesel costs decreased in every of the eight capital cities, following decrease worldwide diesel benchmark costs, which is the biggest part of retail diesel costs.
New hybrid automobile gross sales elevated
Standard hybrid automobiles – automobiles the place its battery recharges internally – accounted for 16.7 per cent of latest automobiles bought within the September quarter 2024, in keeping with Australian Vehicle Affiliation knowledge.
New battery electrical automobile gross sales decreased and represented 6.6 per cent of latest automobile gross sales. The share of plug-in hybrid electrical automobile gross sales – a second kind of electrical automobile – elevated, representing round 2.5 per cent of latest automobiles gross sales.
Inner combustion engine automobile gross sales had been decrease however nonetheless accounted for almost all of latest automobile gross sales (74.2 per cent).
Supply: ACCC
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