A Highlands town has topped a list for the most expensive petrol in regional NSW – and a lack of competition is one of the main factors to blame.
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Mittagong has the most expensive regular unleaded petrol prices in regional NSW, with an average price of 157.1 cents per litre, according to the NRMA’s latest weekly petrol report.
Mittagong also topped the same list last week, with an average price of 156.9. NRMA Spokesperson Saoirse Connolly said there was a lack of competition in Mittagong and Moss Vale, which drove prices up. “Both Mittagong and Moss Vale only have a small number of service stations, selling small volumes of fuel,” Ms Connolly said.
Ms Connolly said prices were determined by several factors, both on a local and international level. “Factors that need to be considered when talking about petrol prices include the price of crude oil, and the exchange rate. That is, the movement in the Australian dollar against the US dollar,” she said.
“There is no consistent answer to explain all the price variations at some locations. It generally comes down to the size of the local market, what competition there is and the presence of non-aligned independents.”
According to Australian Competition and Consumer Commission (ACCC) chairman Rod Sims encouraged motorists to use price monitoring mobile phone apps. “We encourage consumers to use these apps, along with (ACCC) analysis and reports about fuel prices, to shop around and find the best deals,” Mr Sims said.
According to the NRMA, prices in the shire are expected to remain stable over the June long weekend.
