RACT's latest response
While Tasmanians didn’t see the lows of the mainland when the average price got as low as $1.10 per litre, the Tasmanian average got as low as $1.21 per litre and we have seen an around a 20 per cent increase since that time in mid-January. On this basis Tasmanians using an average of 50 litres per week would need to find an extra $12 per week for fuel now compared to the start of the year.
What we have seen in the last month or so is the price gap between the mainland capitals and Hobart close significantly from highs of over 20 cent per litre. Whether that is market forces related or can be attributed to the ACCC inquiry announcement isn’t clear, but it is a small positive for Tasmanian motorists, and we are still paying around 18 cents per litre less than we were paying this time last year.
On the downside, the lower Australian dollar and a steady increase in the Singapore benchmark price is going to see a steady increase at the bowser over the short term at least.