Petrol prices remain steady in Tasmania during Christmas break

Fuel prices have remained steady across the Christmas period in Tasmania, a RACT spokesperson says.

The RACT predicted petrol prices could be pushed into the high 140 cents per litre range during the Christmas break in mid-December.

Unfortunately for motorists, the wholesale price in the lead up to the festive season did push up the pump price to the RACT’s predicted levels.

“There are a few fuel outlets in Launceston at 141.9 cents per litre but most are higher than that according to GasBuddy,” they said.

GasBuddy is an app that allows motorists to find the cheapest fuel across the state for free 24/7.

“Motorists should shop around to identify the best price and to support those offering cheaper fuel,” they said.

About a year ago, the Australian Institute of Petroleum reported the Tasmanian regional average weekly was 130 cents per litre on January 1, 2017.

While the figures for January, 2018, have not been released, the December 17 figures showed the Tasmanian regional weekly average was 144.3 cents per litre.

This was lower than Launceston’s weekly average of 144.9 cents per litre.

The Australian Competition and Consumer Commission (ACCC) concluded, in a report released in July, 2016, that if the Launceston petrol market were more competitive, motorists could expect savings of up to 5 cents per litre on a sustainable basis.

At the time, the commission found petrol prices in Launceston had been significantly and consistently higher –  an average of 12 cents per litre more - than the five largest metropolitan cities between 2012/13 and the first half of 2015/16.

“There are a few fuel outlets in Launceston at 141.9 cents per litre but most are higher than that according to GasBuddy."

An RACT spokesperson

An ACCC spokesperson confirmed petrol prices and margins in Launceston had continued to be monitored, with the latest quarterly report released in November.

The September quarter report found petrol prices were “significantly higher” than they should be, using a long-term, competitive cost-based benchmark.

The prices had decreased by 2.9 cents per litre from the July quarter of 141.1 cents per litre.