The petrol price reductions seen across most of Australia have been short-lived for those living in the regional New South Wales city of Bathurst. An investigation by Wikinews has discovered retailers in Bathurst were late to lower petrol pricing and have been amongst the first to increase them.
Following a threat by the Australian Competition and Consumer Commission (ACCC) to publically shame fuel retailers and oil companies, most fuel outlets across Australia reduced prices by 5 to 10 cents per litre. The ACCC argued that the wholesale cost of petrol was around 10 cents per litre higher than the Singapore market, which Australia benchmarks itself against.
On January 24, the price of Unleaded fuel in Bathurst dropped only 2 cents from 119.9 cents to 117.9 cents. Today, Coles Express on Durham Street has increased the price of their unleaded fuel to the previous level of 119.9 cents.
Wikinews has discovered in its investigations that the price of unleaded petrol at sites in the Blue Mountains and Sydney's Inner-West have either stabilised or reduced by a further 1 to 2 cents following the initial mid-January price cuts.
Unleaded petrol 93 km from Bathurst at Medlow Bath was a whopping 12 cents per litre cheaper, at 107.7 cents. Fuel in Sydney's Inner-West was only 2 cents per litre less than Medlow Bath, despite being a similar distance apart. Curiously, the price of fuel in Medlow Bath has been stable, while the price in Sydney's Inner-West has actually dropped by 1 to 2 cents.
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Petrol pricing in Bathurst, NSW reduced for only seven days