Maitland records 7.4c/l drop in average regular unleaded petrol price in a week

Maitland has recorded the state’s largest decrease in the average price of unleaded fuel for the second time in a month.

The average cost of regular unleaded petrol at Maitland bowsers dropped by 7.4c/l in the week to Tuesday, according to NRMA data, leading to a price of 147.3c/l.

While it was not the cheapest average in regional NSW – the least expensive was 137.8c/l recorded at Nowra on the state’s south coast – it dwarfed the weekly change elsewhere in the Hunter.

It dropped by less than a cent in Singleton and Muswellbrook, where the week’s average was 154.1c/l and 157.1c/l respectively, while the price in Newcastle decreased by 1.2c/l, down to 149.7c/l.

Muswellbrook was the most expensive of the 57 locations across the state that were included in NRMA’s data.

“Maitland’s fuel market is unique in that it has more independent service stations than majors, and in this instance it looks like they’re serious about creating local competition which is great news for local motorists,” an NRMA spokesperson said when asked about the reason behind Maitland’s dramatic price drop.

“Maitland is excellent vale at the moment so if Newcastle motorists happen to be travelling we encourage them to fill up there.”

Maitland previously recorded regional NSW’s largest average unleaded petrol price drop at the end of July.

Sydney recorded a half-cent drop for the week, down to 141.6, while the average ULP price on the Central Coast decreased by one cent, to 145.8c/l.

Elsewhere, in the state’s other large centres, Tweed Heads recorded the second-largest price drop in NSW with ULP dipping by 6.6c/l, while the average in Wollongong was 3.3c/l lower than the previous week.

The report noted current market forces indicated the average unleaded price would rise over the coming week.

The latest data comes after the Australian Competition and Consumer Commission released a report last week that found the cost of petrol across the nation’s state capitals had reached a four year high.

It found the monthly overall petrol price average in Newcastle jumped by 16.7c/l between March and June this year, up to 155.3c/l.

Singleton recorded a similar increase, while the price climbed by 22.6c/l at Muswellbrook over the period – Maitland data was not included in the ACCC’s report.

The ACCC report said the international refined petrol price made up 46 per cent of the cost to consumers at the bowser in June, taxes comprised 39 per cent and wholesale and retail costs took up 15 per cent.

It urged motorists to save money by using fuel price websites or applications for smart phones or tablet devices to shop around for the best value.

This story Competition key to latest petrol price drop at Maitland: NRMA first appeared on Newcastle Herald.