Wessel's Petroleum petrol prices at its Cooroy outlet on Saturday.
Wessel's Petroleum petrol prices at its Cooroy outlet on Saturday. Alan Lander

No price worries, petrol stable

PETROL prices should remain low and stable over Christmas.

But expectations they might go down even further were dashed late last week when the market price rose slightly and the Aussie dollar dropped in value.

That's the prediction of Wessel Petroleum general manager Paul Wessel, whose company operates one of the cheapest outlets in Noosa Shire at Cooroy.

"Crude prices did have a bit of a rise, just as the Aussie dollar took a dive,” Mr Wessel said last Thursday.

"The price won't go up, but it's unlikely to go down either.

"Price changes only take a couple of days to filter through to the pump price.”

Mr Wessel said since the outlet started to compete more strongly with coastal and hinterland stations, trade had rocketed.

"We have extra pumps going,” he said.

"We're supporting motorists, so everyone's supporting us. Happy days.”

Mr Wessel said the US and Russia were pumping a lot of crude onto the market which was good for Australian prices "but the Arabs want a higher price”.

He said the current, very competitive 126.9 cents per litre for unleaded was satisfactory and the Cooroy outlet was not on price cycling.

"In that price, there's 60-70cpl in tax, then there's GST,” he said.

"They have to dig it up, refine it, transport it. It's not really that expensive when you add it up.”

He was aware prices were cheaper in Brisbane - "but they could go to 149cpl tomorrow.”

RACQ had earlier said drivers would enjoy cheap fuel for Christmas, with in-cycle petrol prices in Southeast Queensland expected to hit the bottom of the current price cycle in coming days.

RACQ spokesperson Lucinda Ross said the average price in Brisbane had plummeted 12.6cpl in a week and the trend was expected to continue in the lead-up to Christmas.

"We're currently in the discounting phase of the petrol price cycle so we're seeing an increasing number of retailers drop their prices - but what's really encouraging is we think it's going to get even cheaper,” Ms Ross said.

"The unleaded price in Brisbane is sitting at around 130cpl and we're expecting it to drop another 10cpl by Christmas Day.

"If you can hold off filling up the tank for now you'll save, because there'll soon be even better deals.”

Diesel drivers had also recently benefited from cheaper prices at the pump, with the commodity dropping, on average, almost 22cpl since October.

"Diesel doesn't operate on a price cycle, so any changes are generally only gradual and over time,” Ms Ross said.

"The current average price in Brisbane is sitting around 144cpl and, while it's a lot cheaper than what it was a couple of months ago, there are still some retailers charging above what we believe is fair. But as a gift for diesel drivers, we're not expecting to see prices increase over Christmas.”