AA PETROL WATCH – August 2004

Monday, 6 September 2004, 4:55 pm
Press Release: AA Petrol Watch

Media Release
6 September 2004
AA PETROL WATCH – August 2004

Not surprisingly petrol prices increased during August as world oil prices continued to escalate. AA Petrol Watch noted a 5 cents per litre increase in pump prices throughout the month. In most main centres the retail price of 91 Octane increased from 118.9 cents to reach a high of 123.9 cents towards months end. 96 Octane also increased by a similar amount, and ranged between 123.9 and 128.9 cents per litre in most main centres.

123.9 cents per litre for 91 Octane represents the highest equal ever retail price for that fuel, having also reached this pump price in May of this year.

The importer margin for petrol during the month ranged between 13 and 13.5 cents per litre.

Diesel prices also increased during August, beginning the month at 75.9 cents per litre in most main centres and reaching 80.9 cents.

Motorists will be expecting pump prices to fall as and when the international oil price reduces. The lower pump price in the first few days of September is a ready acknowledgement of the downward shift in world prices.

“Motorists continue to seek clear signals from fuel companies if it is intended to raise prices before those price rises actually take effect, so they have an opportunity to fill their tanks at a lower price. This includes providing information in the media and on their websites” said George Fairbairn, AA Director of Public Affairs today.

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

Ends.

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