![]() ![]() Wholesale prices don't show similar cyclical movements. Price cycles are the result of pricing decisions made by petrol retailers aiming to maximise profits, and they only occur at the retail level. Price cycles had been occurring on a weekly basis since 2011 in Perth, although from October 2021 they changed to occur each fortnight. ![]() The table shows Perth had the most price cycles over the year to March.In Melbourne and Brisbane the cycles lasted around five weeks, and in Adelaide around two weeks.The average duration of price cycles in Sydney - the movement in retail price from trough to a peak to a subsequent low point - was around six weeks over the year to March 2022.The table shows Sydney, Melbourne and Brisbane each had three price cycles in the March quarter. Last week's average was 195.3 cpl, according to AIP data. The national average price for fuel on March 29, just before the excise tax cut was implemented, was 188.3 cpl. ![]() "Retail petrol prices will still fluctuate with changes in international prices and the price cycles in the largest capital cities, even though the excise cut has flowed through to the bowser." "We can see from our petrol market monitoring that the cut to the fuel excise has been passed on to Australian motorists in the vast majority of locations," ACCC chair Gina Cass-Gottlieb said. Over the same period, in Canberra, Hobart and Darwin prices fell by between 25 and 48 cents per litre. It found that in the weeks following the March 30 cut, daily average petrol prices fell by at least 39 cents per litre (cpl) in Sydney, Melbourne, Brisbane, Perth and Adelaide. The Australian Competition and Consumer Commission (ACCC) monitors Australia's petrol prices. ![]() Yes, after petrol prices increased to a 14-year high in March, the former federal government reduced the fuel excise - a tax you and I pay every time we fill up - from 44 cents per litre to 22 cents per litre.īut the reduced rate is due to expire in September. Didn't the government cut the fuel excise? Australia's reliance on fuel imports means it's vulnerable to volatile international fuel markets.īelieve it or not, official statistics from the Bureau of Resource & Energy Economics and the International Energy Agency show Australia has among the lowest petrol and diesel prices of all 38 OECD countries.Īustralian petrol prices are cheaper than the Netherlands, Finland, Israel and Denmark, but more expensive than Canada, Chile, Costa Rica, the United States and Turkey. Russia is one of the world's largest oil suppliers, and global oil supply chains have been heavily disrupted as a result of the war. He notes that world prices have increased as a result of global economic conditions, Russia's war in Ukraine, and Australia's dollar exchange rate. So will fuel prices drop in Australia? And is there a best day to buy petrol? Why is fuel so expensive right now?Īustralian fuel prices follow world prices, explains economics professor John Freebairn, from the University of Melbourne. That's even after the fuel excise was halved in March, to 22 cents a litre, in a federal government move aimed at reducing the pressure on motorists. The car’s low centre of gravity, coupled with the kind of aerodynamics and agile handling usually only seen on the racetrack, make the KTM X-BOW GT-XR a super sportscar that genuinely is “READY TO RACE”.Australian drivers are paying eye-watering prices for fuel, with the price of petrol passing $2 a litre. Vortices generated by the front spoiler and routed around the floor create a seal of air underneath the car and enhance the aerodynamic effect even further. The unique “AirCurtain” system in a road-legal car has been developed to create an aerodynamic ground effect that helps the car stick to the road. From the wedge-like body shape and the sleek and streamlined front surface of the car to the aerodynamically optimised wheel suspension, a floor section designed to maximise ground effect and the rear diffusor and large rear wing, every effort has gone into achieving the maximum amount of downforce at the lowest possible air resistance. The aerodynamics of the KTM X-BOW GT-XR are clearly derived from the highly successful KTM X-BOW GT2, with the designers paying close attention to optimal aerodynamic efficiency. ![]()
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