Australians received a welcome break at the bowser as petrol and diesel prices hit a three-year low in the December 2024 quarter, according to the ACCC. Petrol prices across the country’s five largest cities—Sydney, Melbourne, Brisbane, Adelaide, and Perth—averaged 179.8 cents per litre (cpl), marking a slight decrease from the previous quarter. Meanwhile, diesel prices saw an even greater drop, falling by 8.4 per cent to an average of 177.1 cpl.
The price reductions have been attributed to lower international fuel costs and slowing global oil demand. Darwin recorded the lowest petrol prices among capital cities at 168.9 cpl, while Brisbane had the highest at 186.4 cpl. Diesel followed a similar pattern, with Darwin offering the cheapest rates and Hobart recording the highest. ACCC Commissioner Anna Brakey noted that these reductions provided much-needed relief for motorists, with the commission continuing its monitoring efforts to ensure fair pricing.
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