Petrol stations set to turn price cycle on its head

Monday 16 August 2010

Article by Mozo

Petrol stations are set to turn "Cheap Tuesday" into the most expensive day to buy petrol as the weekly price cycle gets turned on its head.

According to NRMA data from June 1st onwards, the most expensive time of the week to buy unleaded petrol has moved from Sunday morning to Sunday afternoon, to Monday morning and now Monday afternoon.

An anonymous industry source told the Daily Telegraph that petrol companies were being forced to change the weekly price cycle after losing millions in falling sales following the federal government's 25 per cent tax rise on cigarettes in April.

"So much of the retail side of our business was cigarettes but we just can't compete with the big supermarkets," said the source.

"They are undercutting our prices by $3 or $4 for a packet. The only way we can make more money is to sell more petrol at a higher price."

Rising living costs have prompted more Aussies to compare debit cards in search of debt-free spending options. According to a recent survey by Guild Accountacy, some childcare providers expect to have to raise fees by as much as $33 per child per day when new federal government employment rules come into force.

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