Oil companies accused of false petrol price cycle

Published: 08 May 2017

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When it comes to the great petrol lottery, the price we pay can feel so random it’s almost feels like the numbers we see at the bowser must be drawn from a hat.

While the oil giants claim that there’s method to the madness of why petrol prices go up and down like a roller coaster, others are more keen to cast doubt on the process, with the NRMA today slamming the major oil companies, claiming they’ve put Sydney families through the ringer once again.

The peak motoring body is calling out the oil barons, accusing them of forcing a false petrol price cycle on motorists, with pump prices falling five cents less than expected.

The average price in Sydney is currently $1.29 cents per litre, which was expected to drop to $1.16 last week but fell five cents short… before spiking again to the current average price of $1.29.

This would mean that Sydney motorists have missed the low-point of the cycle, robbing them of the chance to save much-needed cash, and boosting the bottom line for oil companies.

NRMA spokesperson Peter Khoury said it’s not the first time prices were higher than they should, and failing to fall as low as they should.

“We saw this behaviour at Christmas when the low-point of the cycle never happened and yet again, it was the major oil companies leading the false spike.

“We knew weeks ago prices should have been around $1.16 cents per litre at this stage of the petrol cycle,” Mr Khoury said.

For bargain hunters, the new NRMA Fuel App identifies a number of Metro and Independent service stations that buck the trend and sell regular unleaded from as little as $1.09 cents per litre – a full 20 cents below the average.

“Finding those service stations has never been easier now that we have the real-time price of every service station in NSW on the NRMA app. Fill up at these independent service stations because anyone over-charging clearly doesn’t deserve your business.”