In welcome news for motorists the average price of petrol in Adelaide has dropped to its lowest level in three months.
The average price for unleaded petrol in Adelaide is 175.4c per litre – the cheapest since May 7 when the price was 171.1c per litre.
It is also the first time the average price has dropped below 180c per litre since May 19.
RAA is urging motorists to take advantage of the cheap prices on offer as part of the petrol price cycle.
Canny motorists using our free myRAA app can find unleaded petrol prices below 170c per litre at more than 30 outlets across Adelaide.
The fall in fuel prices is being driven by cuts to the wholesale cost of ULP.
Just this month, the wholesale cost has dropped from 201.8c per litre to 172.6c per litre.
RAA fuel expert Mark Borlace said the falling price of petrol was a result of a decrease in the cost of crude oil.
“Economists are saying the global economy might be headed for a recession, and this is putting downward pressure on the price of crude oil,’’ he said.
While falling unleaded prices are providing some relief to household budgets, Mr Borlace warned motorists to brace for a price hike of around 22c a litre when the reduction in the Federal fuel excise is removed in September.