Petrol and diesel prices as at 30 April 2019

A rapid and unexpected drop in fuel prices, with both petrol and diesel dropping 10 cents per litre on one day – and unheard of amount (the previous biggest cut was 8cpl in October 2008). Whilst there was an encouraging drop in commodity prices – petrol only fell by nearly 3cpl, and diesel 2cpl – the retail price cut far outweighed this. Consequently, fuel company margins have taken a dive, although as we have noted, margins for diesel in particular were very high, and are still higher in comparison to petrol. Speculation is that fuel company margins are being “reset”.


Petrol and diesel prices as at 30 April 2019
  National fuel price
91 Octane 226.9
95 Octane 235.9
Diesel 163.9

  

Petrol and diesel prices as at 26 April

A further increase to petrol prices last week, up a total of 6 cents per litre, and the thirteenth straight increase in a row and pushing petrol to the highest price observed since last October. Diesel prices remained unchanged however. Whilst commodity prices for both fuels increased last week – up approx. 2cpl – due to geopolitical issues, margins on both fuels remain high, especially so for diesel where there is room to drop, whilst some of the petrol price rise could also be reversed.

Petrol and diesel prices as at 26 April
  National fuel price
91 Octane 236.9
95 Octane 245.9
Diesel 173.9


Petrol and diesel prices as at
11 April

Fuel prices rose 3 cents per litre on 11 April, pushing prices to their highest level since November 2018. This is attributed to an underlying increase in crude oil prices, and rises in refined commodity prices, particular petrol with a number of global refinery shutdowns. However refined petrol prices rose further than diesel commodity prices but neither have risen high enough to justify a 3cpl increase. As it stands, margins on both fuels are now higher than normal, suggesting the latest price rise was unnecessary.

Petrol and diesel prices as at 11 April
  National fuel price
91 Octane 230.9
95 Octane 239.9
Diesel 173.9

 

Petrol and diesel prices as at 10 April

Petrol prices have risen on two occasions in April so far, up a total of 7 cents per litre, whilst diesel prices have risen 3 cents per litre. It’s attributed to rising refined fuel commodity prices, on the back of higher oil prices, with diesel commodity price rises lagging those for petrol due to different supply and demand factors (although the diesel commodity price is about US$5/barrel higher than petrol), with demand for petrol rising in the USA ahead of their summer driving season. Nevertheless, margins for both fuels have risen following previous price increases and remain comfortably high – with the margin on diesel 16cpl higher than that for 91 octane petrol – there is clearly room for diesel margins to drop.
 

Petrol and diesel prices as at 10 April
  National fuel price
91 Octane 227.9
95 Octane 236.9
Diesel 170.9


Previous prices as at 29 March
  National fuel price
91 Octane 220.9
95 Octane 229.9
Diesel 167.9

 

 

 

 

 

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