Prices could be even lower, but service stations are still enjoying big margins at the bowser. Across the 2016-17 financial year, average petrol prices were 122.6 cents per litre, which was a slight uptick from 2015-16, but the ACC reports these prices "were at their lowest levels in real terms since 2001-02". "While motorists are enjoying the cheapest petrol since 2002, we believe prices should have been even lower given the continuing high gross retail margins," ACCC Chairman Rod Sims said. "We encourage people to use fuel price apps to locate petrol stations in their area with relatively lower prices." Prices in regional areas were even higher, with the ACCC expressing concern over prices in Launceston, Armidale and Cairns.

Source: Huffington Post August 31, 2017 03:45 UTC