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Call for retailers to pass on fuel price drop

The RACT is calling on Tasmanian fuel retailers to reduce their price in line with recent wholesale price decreases.

The RACT says in some instances there is a 30 cents per litre difference between the wholesale and retail price.

In the past month, the wholesale price of fuel has dropped by about 20 cents per litre, but the average retail price across the state has remained the same.

“We are seeing a massive difference in the wholesale price – it has dropped from 152.6 cents per litre in mid-October to 133.7 cents per litre today,” RACT General Manager Mobility Services Darren Moody said.

“In the meantime, the average retail price for fuel in Tasmania on 15 October was 164.1 cents per litre, while today the average is 164.4.

“This is a 30 cents per litre gap between the wholesale and retail price of fuel – the biggest we have seen in the past many years.

“While we are seeing isolated pockets at 159.9 cents per litre, the majority of prices in major population centres is still over 162.

“But if you travel to more regional and rural areas, the price drops significantly. At the moment at Dunalley there is fuel retailing for 148.9 cents per litre.”

Mr Moody said retailers needed to drop their price so that it was closer to the wholesale price.

He also recommended motorists shop around using the GasBuddy app to locate the best prices on fuel.