Sydney motorists are being urged to fill up their cars now to possibly save up to $15 at the service station bowser.
Average prices for unleaded fuel rose dramatically in late October up to 160.5 cents a litre, which was the highest prices we’d since July 2008.
However, pump prices have now come down by 4.4 cents to 156.1 cents a litre, resulting in the biggest falls since August.
In Sydney, prices are down to 142 cents a litre, and CommSec economist Ryan Felsman says we are a fortnight through the 18-day discount cycle which meant motorists we’ll enjoy cheaper petrol for a few more days to come.
Mr Felsman told Daily Mail Australia: ‘Early next week, we’ll see prices go back up in Sydney.’
‘The trend is for lower prices but I’d still argue the normal price is still around $1.50 a litre.’
Motor Mouth data for Sydney shows prices have seen a huge drop recently from 164.3 cents a litre on October 19 to 142.5 cents a litre.
Based on these current prices the owner of a typical Camry sedan for example would save up to $15.
‘Crude oil prices and offshore prices are pointing to prices falling, of course different cities are also beholden to the cycles of petrol stations as well,’ Mr Felsman said.