It's that time when petrol prices spike in Melbourne. Yesterday we saw the first petrol stations jump from around 99.9 cents to 129.9. I thought I'd share what you see on the Petrol Prices Melbourne (www.PetrolPricesMelbourne.com.au) map.
During the price discounting cycle you'll see the average price being a yellow marker and prices above being orange to light red, and prices below, being olive to light green. However when the petrol price spikes you went up with prices being at either end of the range. The old much lower price and the new much higher price. That is you'll see lots of dark reds (those that have increased their prices) and lots of dark greens (those that haven't yet increased their prices).
It takes around 3-4 days for the new higher price to become the norm (this is called the restoration phase of the discounting cycle) and then for the discounting to start again.
When you see lots of dark reds and lots of dark greens it is time to fill up.
Kelvin Eldridge
www.PetrolPricesMelbourne.com.au
During the price discounting cycle you'll see the average price being a yellow marker and prices above being orange to light red, and prices below, being olive to light green. However when the petrol price spikes you went up with prices being at either end of the range. The old much lower price and the new much higher price. That is you'll see lots of dark reds (those that have increased their prices) and lots of dark greens (those that haven't yet increased their prices).
It takes around 3-4 days for the new higher price to become the norm (this is called the restoration phase of the discounting cycle) and then for the discounting to start again.
When you see lots of dark reds and lots of dark greens it is time to fill up.
Kelvin Eldridge
www.PetrolPricesMelbourne.com.au
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