AA PETROL WATCH – January 2005

Media Release
4 February 2005

AA PETROL WATCH – January 2005

AA Petrolwatch for January has shown that pump prices have kept up to the levels that prevailed towards the end of 2004. After the positive signs during December of some stability in prices, the trend during January has continually been upwards, including the importer margins.

This has been at a time when the exchange rate has continued at an all time high, and with reported downward shifts in world prices.

The very positive drop of 5 cents a litre in late January was certainly a gesture to motorists, but as to be expected it did not last for more than 24 hours. All outlets that joined in this “price drop” immediately returned back to the previous price levels after 24 hours.

The average nationwide pump price for 91 octane during the month varied between $1.13 and $1.19 a litre with 96 octane maintaining the differential of an additional 5c to 6c.

Motorists need to be aware that even in some locations which are not remote, and are on tourist routes, the pump price can be 4c or 5c above that applying in nearby locations. It again emphasises the need for motorists to make sure they are aware before filling, of the price at the site, when it may not be shown on the signs in the forecourt.

Motorists will continue to question the justification for the current pump price, when the two principal factors which affect the price, are showing very positive signs, and must surely be a reason for a more permanent drop, and not just for 24 hours!

ENDS

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