petrol price cycle unpredictable

Laifu

Oil And Gas Energy Price Trend In Singapore: Fuel Cycle Meltdown Price Changes Baffle Drivers  
Apr 12, 2012, by News Ltd.

Keywords: Oil refining, Oil extraction



PREDICTING Melbourne's petrol price cycle has become harder than ever with the cheapest price recently falling on every weekday.

With a post-holiday price spike imminent, analysis for Public Defender has found drivers are being easily caught paying too much.

In the past 13 cycles Mondays and Wednesdays were cheapest four times each, and Thursdays and Fridays twice each.

The once regular ``Cheap Tuesday'' rang true only once.

RACV spokesman Michael Case said the petrol price cycle, which once lasted a week, had never been so unpredictable.

Unwary motorists faced paying up to $15 more to fill a typical family sedan if they waited too long.

``When the duration of the cycle changes unpredictably, that potentially confuses motorists,'' Mr Case said. ``Unless you plan to fill up on cheaper days you pay more.''

The cycle in February blew out to a record 22 days and was now occurring every 12 to 13 days.

Unleaded fuel was selling for up to $1.61 a litre in the city yesterday, while regional prices were up to $1.59.

AMP Capital chief economist Shane Oliver said Melbourne's peak unleaded fuel price should be about $1.54 a litre because crude oil in Singapore was trading at $US131 a barrel.

CommSec economist Savanth Sebastian expected Melbourne's average unleaded fuel price to be 2c dearer in the next 10 days with a possible peak of $1.65.

hoskingw@heraldsun.com.au


GUESS THE DAY

How the cheapest day has varied for the past 13 petrol cycles

2011 Price

Wed, Nov 2 136.5

Mon, Nov 14 131.8

Thur, Nov 24 133.3

Mon, Dec 5 130.7

Thur, Dec 15 131.4

Mon, Dec 26 131.6


2012 Price

Fri, Jan 6 132.4

Wed, Jan 18 136.5

Tues, Jan 31 136.0

Wed, Feb 22 131.9

Wed, Mar 7 137.4

Mon, Mar 19 141.1

Fri, Mar 30 143.3

Price in cents reflected Melbourne average unleaded fuel price per litre

Source: RACV