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Perth's new weekly petrol price cycle has seen Monday become the new cheap day for motorists to buy petrol, with most retailers now hiking their prices on a Tuesday.
Commerce Minister Michael Mischin said an analysis of price trends by FuelWatch in recent weeks has discovered a new pricing pattern by the major petrol retailers.
Mr Mischin said the analysis showed that Coles Express Mount Lawley was consistently the cheapest site for unleaded petrol in Perth since the beginning of this year. The cheapest site in the south was Caltex Woolworths South Lake and Better Choice Roleystone was the cheapest in the east.
"Until recently and for about five years, Perth had a predictable weekly price cycle where, on average, Wednesday was the cheapest day of the week to buy petrol and prices rose dramatically on a Thursday," he said.
"However at the end of May, most Caltex service stations suddenly broke that pattern and began to increase their prices earlier in the week, making the traditional cheap days the most expensive. Other major fuel companies followed that lead.
"It appears that this new cycle has been established for several weeks now and we need to advise motorists to fill up on Mondays to take advantage of the new weekly price cycle.
"On any day, prices can vary widely from site to site and from brand to brand. The difference between the cheapest and most expensive has been up to 27 cents per litre, which is a $16 price difference for an average tank of petrol."
The Minister said the FuelWatch system was unique to Western Australia and prices on the website were locked in for a 24-hour period from 6am, giving consumers certainty and transparency when making their purchasing decisions.
"I encourage motorists to use the services of FuelWatch to locate the cheapest fuel outlet nearest to them and reward them with your business," Mr Mischin said.
"After 2.30pm each day, motorists can also check the following day's prices and decide when the best time is to fill up.
"Almost 38,000 people have already signed up with a surge of 1,000 new subscribers joining last month. The FuelWatch website gets more than half a million visits every month and that has been increasing."
Fact File
Top 10 cheapest unleaded fuel sites in Perth to June 30, 2015:
1 | Coles Express Mount Lawley | North Perth | North of river | 120.5 |
2 | Vibe Charles St | North Perth | North of river | 121.9 |
3 | Gull East Perth | East Perth | North of river | 122.2 |
4 | Caltex Woolworths South Lake | South Lake | South of river | 122.2 |
5 | Better Choice Tuart Hill | Tuart Hill | North of river | 122.6 |
6 | Caltex Woolworths Greenwood | Greenwood | North of river | 123.3 |
7 | Puma Neerabup | Neerabup | North of river | 123.4 |
8 | Gull North Perth | North Perth | North of river | 123.4 |
9 | Better Choice Roleystone | Roleystone | East/Hills | 123.4 |
10 | United Mount Lawley | Mount Lawley | North of river | 123.6 |
Media contact: Minister's office – 6552 5600
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