By Luke Voogt
Geelong motorists will get some back-pocket relief before Christmas, following a 19.4 cent price petrol price hike, according to APCO director Peter Anderson.
Mr Anderson made the prediction after the average price rose from 128.1 to 147.5 cents per litre in Geelong last week – the highest price in three months.
“The prices will be cheaper between now and Christmas than they are now,” he said.
Prices were on a downward trend in Geelong this week, dropping to an average of 146.8 cents on Monday.
Mr Anderson predicted the trend would continue.
“I think prices will be cheaper on Christmas day than they are today,” he said.
Mr Anderson blamed the recent price rises on decisions at the retail board level.
“It’s certainly got nothing to do with Christmas,” he said.
“Twelve months a year our prices go up and down at retail board level.”
When the major petrol companies raised their prices it forced independents such as APCO to do the same thing, he explained.
“A couple of majors have moved up their prices and we saw an opportunity to do so,” he said.
“I sympathise with the public, I really do.
“But you’ve got to go to survive. We’re all trying to make a living on the fuel industry here.”
Prices now moved in a four to six-week cycle rather than the weekly cycle of previous decades, he said.
“It’s all changed now.”
But Mr Anderson explained average prices could be misleading given that most people filled up on fuel where it was cheapest.
“Often the amount the average driver pays is lower than the average price,” he said.
APCO was selling unleaded for 145.7 cents while BP Victoria Street and BP North Geelong were selling it for 145.9 cents or less according to Compare the Market.
