Petrol prices are plummeting around Adelaide following a massive drop in global demand for oil.
The COVID-19 pandemic, and in particular China’s response, has impacted the global need for oil.
Meanwhile, a price war between Saudi Arabia and Russia has led to the biggest fall in oil prices for decades.
Petrol has been advertised for as little as $1.10 per little throughout Adelaide’s western suburbs.
Closer to the city, petrol price monitoring website MotorMouth has unleaded listed as between $1.10 and $1.14 at OTR Walkerville.
It’s not all good news, however, with prices already heading back up before the weekend.
Mark Borlace from the RAA told The Advertiser that despite the lower oil prices, Adelaide is still subject to a petrol price cycle.
The current cycle has gone for 20 days, longer than the typical 15 day Adelaide price cycle, Borlace said.