AA Petrol Watch – April 2004

4 May 2004

AA Petrol Watch – April 2004

AA Petrol Watch observed there were pronounced changes in fuel prices at the pump during the month of April, despite relative stability in the exchange rate and the international price for oil.

The weekly nation-wide average price for 91 Octane fuel varied between 113.5 and 114.5 cents per litre throughout the month. However, there were pronounced short term changes in price, with the pump price of 91 Octane varying by as much as 6 cents per litre over a 24 hour period at some outlets, with increases ranging from 111.9 to 117.9 cents per litre.

The weekly importer margin for petrol varied between 13.5 and 14.5 cents per litre.

The price of diesel also varied considerably, with the retail price varying across main centres from 63.9 to 69.9 cents per litre.

The Association today questioned such rapid changes in fuel prices, when overnight the pump price increased by up to 6 cents per litre.

“Such dramatic change in prices, with the price of fuel varying so markedly in one day is making motorists increasingly cynical about the reasons for such changes, and the justification and validity of the pricing methods used” George Fairbairn, AA Director of Public Affairs said today.

The Association notes that the pump price of 117.9 cents per litre for 91 Octane which appeared at many outlets on Monday this week is the highest price since May 2001, and at a time when the exchange rate was much more favourable than it had been in 2001.

The Association’s concern at a lack of advice being given to motorists of the pump price for 96 Octane petrol remains, with many outlets only displaying the 91 Octane price.

Ends.

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