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1.Market Observations, 8.Was Sticky

28 Nov 2018 (AFR) – Cheaper petrol an early Christmas present for Australian motorists

(28 November 2018, AFR, p3, by Mark Ludlow)

‘Australian motorists are enjoying the lowest petrol prices in eight months as Brent crude oil price dropped below $US60 for the first time in a year, but pundits are divided as to whether the low prices will last past Christmas. While there had been fears petrol prices could crack the psychological $2 a litre mark before the end of the year – fuelled by higher international prices and a stronger Australian dollar – a boost in supply from big oil producers has taken the edge off the bowser price, with Sydney, Melbourne and Brisbane price cycles aligning and dipping below $1.30 a litre.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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