Petrol prices expected to drop in the coming week
PETROL prices are soaring with many Tweed service stations selling unleaded for more than 164 cents per litre.
Some suspect discount petrol vouchers are to blame, but NRMA president and local director Wendy Machin said it was mainly to do with capital city price cycles.
"The Tweed Heads petrol market is unique to the rest of regional NSW because it has a price cycle," she said.
"The other 51 regional towns that the NRMA monitors experience relatively stable prices and are not subject to big fluctuations that are found in Tweed Heads and capital cities around Australia.
"Tweed Heads is geographically close to Brisbane and as a result, its prices closely follow that market.
Today's prices are unusually high according my Ms Machin.
"Today, we are seeing some very high average unleaded prices across Queensland including 164.1 cents per litre on the Sunshine Coast, 165.1 in Brisbane, 165.8 on the Gold Coast and 164.9 at Tweed Heads," she said.
"Sydney's average unleaded price is 160.8 cents per litre while just south of Tweed Heads, Lismore's average is 154.9 - however there is no price cycle there."
Ms Machin said we were likely at the top of our price cycle and we could expect a drop in the next seven days toward the 150 cent mark.
"Local motorists are advised to hold off for as long as possible to fill up," she said.
"If Tweed Heads motorists are heading south to Lismore, take advantage of better prices there and fill up."
According to Ms Machin the length of price cycles has become impossible to predict.
"Long gone are the days of 'Cheap Tuesday' and regular seven day price cycles," she said.
"[Price cycles] have lasted anything from 14 to 30 days this year."