Petrol prices stuck on full

Ernie Coulton fills up at Matilda service station, petrol prices look to be staying stable.

Scottie Simmonds

BUNDABERG motorists may not feel relief at the bowser any time soon, despite predictions the price of petrol nationwide is about to fall up to 3c a litre.

CommSec economist Savanth Sebastian said cheaper overseas oil prices and the strong Australian dollar would help drive fuel prices down.

Mr Sebastian said Darwin remained the dearest capital city for unleaded petrol, despite the price falling 0.2c to 154.2c a litre last week, while Sydney had the cheapest, up 2.8c to 143.6c a litre during the same period.

The weekly average price for unleaded rose in all capitals last week except Canberra, Darwin and Hobart.

But Matilda service station owner Gary Jensen said he could not see any fall in prices on the way.

"We've had no indication of that," he said.

"We don't really know until we put in an order."

Mr Jensen said prices in Bundaberg had remained stable for six to eight weeks, around 143.9c a litre.

"We don't really have the price cycle in Bundaberg," he said.

"Coles and Woolworths drive the price cycles to get market off each other and off the smaller operators."

He said price cycles were prevalent in bigger cities because motorists had more options.

"People are travelling a lot further and they might pass 20 service stations," he said.

Mr Jensen said cash flow was a big problem for the smaller operators.

"We can't sell below cost and Coles and Woolworths can," he said.

RACQ spokeswoman Lynda Schekoske said they were not expecting a major change in local petrol prices in the next month or so.

"Bundaberg prices have been stable for the past month or so, and we would expect prices to stay around the same mark," she said.

Ms Schekoske said she could not see where CommSec was coming from.

"The Aussie dollar is strong, but there's nothing to indicate a fall in prices," she said.

"You might see minimal decreases, but we're not expecting anything substantial."

Ms Schekoske said a number of factors had influence on petrol prices.

"Instability in the Middle East can cause changes, but it's more likely to push them up because it interrupts supply," she said.

WATCH ON FUEL

• Brisbane 146.9c/l
• Blackall 157.1c/l
• Gympie 145c/l
• Mackay 140.2c/l
• Hervey Bay 144.1c/l
• Rockhampton 148.6c/l