According to the Australian Institute of Petroleum, the national average Australian price of unleaded petrol fell by 0.3 cents to 111.6 cents per litre in the week to February 7. It was the ninth fall in the national petrol price in 10 weeks.
In Australian dollar terms the Singapore gasoline price fell by $7.92 a barrel last week or 11 per cent to $63.91 a barrel or 40.19 cents a litre. The figure of 40.19 a litre is the lowest result in seven years.
The gross retail margin for unleaded petrol stands at 9.4 cents a litre. The gross retail margin for diesel petrol stands at 25.3 cents a litre…
The national average Australian price of diesel petrol fell by 1.5 cents to 115.9 cents per litre in the week to February 7…
Compared with October last year, the average household is saving around $27 a month on filling up the car with petrol, equivalent to a quarter percent rate cut on a $180,000 mortgage.
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
