Back at the end of last year I did a post pointing out that the days of cheap petrol were over; that you would not be seeing petrol under $1.10 again anytime soon (see that post here).
Well, based on petrol prices in Perth through January I think that I was about 10 cents out. I should have made it $1.20.
I have not seen standard ULP under $1.20 since just before Xmas. In fact I think the lowest I have seen it is around $1.28 per litre, which—for those that like to convert everything back into the ‘old money’—works out to $5.82 per gallon (for Imperial gallons; for US gallons it would be $4.84).
I recall reading in the Australian Financial Review about September of last year that petrol could be $1.40 by mid-2017. At this stage it looks like whoever wrote that article might be right on the button.