The Australian Competition and Consumer Commission Victorian LPG survey results from yesterday and today (9/10 and 10/10) indicates that autogas prices in the Melbourne metropolitan area averaged 33.6 cents per litre on Thursday morning and 33.5 on Friday morning.
This is about a 3.7c increase from the average Melbourne price occurring over the previous week. The figures were obtained by an ACCC-commissioned survey.
Prior to the Longford incident LPG prices in Melbourne moved in a cyclical manner.. This ranged from around the low 20s to the high 20s depending on the level of discounting.
With the gas crisis prices moved to the top of this cycle. The consistent average for the first week of the crisis was 29.9c per litre. This price reflected the suppliers' decision to discontinue discounting and to recover the costs of interstate sourcing.
From the middle of this week there has been a further upward movement in prices. This upward movement in part reflects a decision by Saudi Arabia to increase the international producer benchmark LPG price by around two to three cents which has had an effect on local producer prices (which generally reflect world price movements).
"The cost of bringing in supplies from interstate and the recent rise in international prices have affected the price of LPG," ACCC Chairman, Professor Allan Fels, said today. " The ACCC will continue to monitor supply conditions and changes in prices closely. Any further rise in prices would, based on current conditions, be a matter of concern.
