Petrol prices on way down

PETROL prices across Ballarat are on the way down.But some outlets are yet to drop their price, leaving many motorists paying about 10 cents per litre more for unleaded fuel.And despite the fall, drivers are still paying well above $1.50 per litre as predicted last week The Courier surveyed 10 petrol stations at the weekend and found the cheapest petrol was at Mobil on Scott Pde in 155.5cpl.At Shell in Barkly St unleaded fuel was selling for 165.9cpl.RACV government relations manager David Cumming said the high prices would not last, with a decrease definitely on the cards this week."We've seen a very large price drop over the past nine days, with a 12-cent drop in the wholesale price," he said."I expect that to flow on (to consumers) this week."I believe in Ballarat this week you can expect to pay $1.50 a litre or lower."Many Ballarat petrol stations have already responded to the drop in crude oil costs and lowered their prices from 165cpl to about the 162cpl or 160cpl mark.Mr Cumming said there was a huge expectation for lower prices, especially after such a large drop in wholesale prices. He said consumers needed to allow a few days for cheaper petrol to reach all outlets."There will be no justification when the price cycle ceases for the price to be anywhere near $1.65," he said.However, Mr Cumming warned that while the petrol would be cheaper, consumers were still paying too much."The Federal Government shouldn't think this lets them off the hook for one minute," he said."They still need to review the petrol tax in this nation."Mr Cumming said the cheap fuel prices would last at least two weeks."Beyond the next fortnight we don't know - we just have to wait and see," he said.