Australian Fuel Prices Remain Under Scrutiny

Unleaded was still selling for an average 173.9c per litre in Darwin yesterday -- the same price it has been since July 11 when oil prices reached a record high. Motorists have been expecting some relief at the petrol station with the price of crude oil falling more than $20 in the past two weeks.

And the price of Singapore Tapas -- considered the benchmark for Australian fuel -- has also fallen by almost $20 per barrel in the past fortnight. This has impacted the wholesale price retailers are paying for their fuel.

The "terminal gate price'' for unleaded petrol in Darwin peaked at 162.8 cents per litre on July 9 but had dropped to 150.06 yesterday. But the average price at the Darwin bowser has remained unchanged over the same period. Petrol was going for $1.739 at the Shell service stations in Winnellie and in the city.

Fueltrac general manager Geoff Trotter said the retail price had started to fall everywhere but the Northern Territory. "Darwin is the only place in the world where petrol retailers defy gravity,'' he said. He said Darwin's unleaded petrol price should rightfully be down to 160c per litre by the end of next week. ACCC fuel commissioner Pat Walker said the retail outlets were not following the wholesale price cuts.

"We expect a correlation between the benchmark price, the wholesale price and the retail price and it is disappointing that the cut in wholesale price is not being passed on,'' he said.

Automobile Association NT general manager Linda Deans said she was confident petrol retailers would do the right thing. "We should see that (price drop) at the bowser(service station) very soon, and if not, why not?'' she said.

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