Petrol Prices – Start of New ULP Price Cycle
Issue Date: - Tuesday, 5 August 2008
Deputy Prices Commissioner Aaron Rayner has criticised the move by BP and Caltex to hike its metropolitan unleaded petrol prices at a time when the international benchmark is falling.
Tomorrow, some BP and Caltex sites are increasing their unleaded petrol (ULP) price to 155.9 cents per litre (cpl) at a number of their sites. This may signal the start of a new petrol price cycle in Perth.
“This pricing strategy is very disappointing, as motorists should be beginning to enjoy cheaper prices after seeing record highs in the previous months,” Mr Rayner said.
“BP and Caltex have increased their prices in an attempt to trigger a new price cycle.
“The price cycle is a retail strategy devised by the major companies to increase retail profits and is not linked to international or wholesale prices,” Mr Rayner said.
The average price of ULP across Perth tomorrow is 146.7 cpl, however 205 service stations will still be selling below this price. FuelWatch is encouraging motorists to buy their petrol today or tomorrow while cheaper prices are still available and to check petrol prices before they buy.
Motorists can reward those outlets selling at reasonable prices by purchasing fuel from them.
In the Eastern suburbs tomorrow the cheapest fuel can be purchased from United Roleystone for 142.8 cpl.
In the Northern suburbs tomorrow the cheapest fuel can be purchased from Gull Merriwa and Gull Mindarie for 141.5 cpl.
And South of the river tomorrow the cheapest fuel can be purchased from Caltex Woolworths Beckenham for 141.6 cpl.
Motorists can find the best prices by checking the FuelWatch website at www.fuelwatch.wa.gov.au or by phoning 1300 550 808.