The report shows higher international refined petrol prices drove average retail petrol prices higher in the June quarter 2021. ![]() While the 2020–21 annual figures were low, prices started to increase in the second half of the year. “While the June quarter 2021 results show only a relatively small drop in demand for petrol, millions of Australians have been in lockdown since the end of June 2021 and we will see the impact that’s had on fuel sales volumes in our September quarter 2021 report.” June quarter 2021 “The pandemic has had an enormous impact on demand for petrol in Australia, going back to March last year and this has influenced retail prices and gross retail margins,” Mr Sims said. In 2020–21, annual petrol sales volumes were around 11 per cent lower than in 2018–19, before the impact of COVID-19. The COVID-19 restrictions on travel and economic activity in Australia imposed in mid-March 2020 meant that there was significantly less petrol purchased from retail sites. Taxes accounted for 42 per cent of the price, while the international price of refined petrol accounted for 39 per cent. In 2020–21, taxes were the largest component of the price of petrol in the 5 largest cities, and greater than the cost of refined petrol. “Low average petrol prices in the last financial year have come after prices reached record lows around the onset of the COVID-19 pandemic,” ACCC Chair Rod Sims said. In real terms, the last time annual average retail prices were lower than this was in 1998–99 when they were 115.0 cpl. ![]() Annual average retail prices in 2020–21 in Sydney, Melbourne, Brisbane, Adelaide and Perth were 129.7 cents per litre (cpl), a decrease of 4.9 cpl from 2019–20 (134.6 cpl).
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |