AA Petrol Watch – March 2004

AA Petrol Watch – March 2004

AA Petrol Watch has shown that changes in petrol prices at the pump throughout March, have followed a similar pattern to that during February. This reflects continuing volatility in the international price of oil and changes in the exchange rate.

The nation-wide average price of 91 Octane rose from a low of 108.5 cents per litre in the first week of March, to reach a high of 115.5 cents per litre during the second half of the month. In the last week of March the average 91 Octane price fell to 114.5 cents per litre. The importer margin for petrol varied between 11 and 14 cents per litre throughout the month.

Diesel prices also showed variation, with the nation-wide average price for diesel ranging between 63 and 67.5 cents per litre throughout the month.

“It is acknowledged that the international price of oil and the exchange rate are likely to remain volatile for some time yet. However with school holidays and Easter approaching, motorists will be seeking more stability in pump prices,” George Fairbairn, AA Director of Public Affairs said today.

The Association again raises its concern that too many sites are not showing the prices of both 96 and 98 octane fuels on the forecourts.

“It is in the interests of good competition and information for all motorists that a clear indication of the price of all fuels at a retail outlet is available before they drive onto the forecourt. In the absence of good price information, motorists are becoming somewhat cynical that retailers could be making an increased margin on premium grade fuels”, said Mr Fairbairn.

AA Petrol Watch will continue to monitor fuel prices and report on them regularly.

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