AA Petrolwatch – March 2005

6 April 2005

AA Petrolwatch – March 2005

AA Petrolwatch has shown a continuing increase in pump prices during March as world oil prices moved ever upwards. Despite some indications that prices may have reached a peak, the price for the motorist at the pump is steadily climbing to an all time high.

Two increases during the month have taken the average nationwide pump price for 91 octane to 1.23.9c litre, with the differential for 96 and 98 octane ranging between 5c to 10c additional.

Once again there have been occasions during the month when one supplier has sought to move the price upwards. With the other suppliers not going with the increase, it has meant the increase was short-lived, although during the hours when the price had increased, some motorists bore the brunt of such pricing manoeuvres. The advice given over some months remains – make certain before filling up that the price at the particular pump is the best available, in that locality, at that time.

As the month ended, the increase in tax on petrol of 5 cents per litre plus GST, was to the forefront for many motorists as they took advantage of the lower price prevailing on 31 March, before the increase the next day to a pump price of $1.29.5c.

It is disappointing that all oil companies increased their pump prices by the 5 cents on 1 April, given that the tax increase takes some days to flow through to their costs from when the tax is imposed.

ENDS

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