Numerous petrol stations throughout the Yarra Ranges are displaying significantly high petrol prices, despite global oil prices falling due to coronavirus.
According to the Australian Competition and Consumer Commission there has been a decline in the price of crude oil and refined petrol since early January this year.
Prices at some stations throughout the Yarra Valley have not reflected this downturn, particularly in locations such as Yarra Glen and Healesville.
Both average fuel prices in these towns are sitting at about $1.59.
Residents in the region would be better placed to get fuel from service stations in Wandin North (average fuel price of about $1.09), Woori Yallock ($1.12) or Launching Place ($1.12).
Average petrol prices in Lilydale are significantly high at about $1.50.
Meanwhile, Dandenong Ranges residents can enjoy typically lower prices at the bowser.
In Ferntree Gully and Emerald, average prices sit at about $1.13.
ACCC Chairman Rod Sims said a sustained decrease in international crude oil and refined petrol prices should see lower petrol prices at the bowser.
“We will be looking at the market very closely, to determine if further sustained reductions in international prices are being passed onto consumers, and we will be publicly identifying those retailers that are not passing on reductions,” he said.
“The ACCC cannot control the petrol prices companies set but we can call out problematic price setting which can influence company behaviour.
“At this time the Australian economy needs all the assistance it can get, and lower world oil prices are one of the few positives from current world events.”
According to RACV, the price trend for petrol is currently going up.
The average fuel price for Melbourne is at about $1.34, with a highest price of $1.59 and lowest price of $1.07.
RACV recommends consumers should currently avoid paying above $1.14.