3 August 2004 AA Petrol Watch – July 2004

3 August 2004 AA Petrol Watch – July 2004
After noticeable drops in pump prices during June, the reversal occurred in July, with increases ranging from 7 to 10 cents in all main centres. These movements reflect the continuing volatility in the international price of oil.

AA Petrol Watch observed that pump prices in major centres increased from 111.9 cents per litre in the first week of the July to reach 118.9 or 121.9 cents per litre by the end of the month. The price of 96 Octane also increased by a similar amount. Immediately following months end, the pump price increased a further 3 cents as world prices hit an all time high.

The importer margin for petrol continues to remain relatively constant and ranged between 11.5 and 13.5 cents per litre.

Diesel prices also moved upwards in July increasing from 66.9 cents per litre in the first part of the month to reach 78.9 cents per litre by months end. This is the highest pump price ever recorded for diesel.

“With continuing movements in pump prices, motorists need to take advantage of any price falls or one day specials, and keep their tanks full” George Fairbairn, AA Director of Public Affairs said today.

There is continuing concern that some retailers are not showing all fuel prices on the outside forecourt price boards, with often the price of 96 Octane not evident.

“This is denying motorists important price information at a time when they are facing very high fuel costs” Mr Fairbairn said.

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

ENDS

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