Oil companies continue to discount diesel prices last week, knocking another half a cent from terminal gate prices
Oil companies continued to discount diesel prices last week, knocking another half a cent from terminal gate prices.
Australian Institute of Petroleum (AIP) figures for the week ended February 8 show marginally cheaper prices on average in all capital cities, following on from the average 2.5 cent discount seen the previous week.
The AIP data, based on information provided by BP Australia, Caltex, Shell Australia and ExxonMobil, shows Perth prices falling almost 3 cents, while other centres only saw cuts of 0.4 cents on average.
Oil prices are continuing to fall, with the overnight price slashed another 1.2 cents per barrel to US$39.69.
But the OPEC group of oil producers has reportedly delayed 35 projects to expand supply due the low price, which could reign in further price falls.
Trader Business Media titles ATN, Owner//Driver and ABC now publish a summary of terminal gate diesel prices across key capital cities every week. To view this data, available only to subscribers, click here.