Petrol prices at Oaks Beach Store in Burnett Heads plummeted to 114.9 cents a litre on Friday as the owner quickly passed on oil price cuts to locals.
The price of petrol, both unleaded and diesel, steadily decreased during the past two weeks at the seaside-community bowser.
Oaks Beach Store owner Tyrone Podberscek said he was pleased he could offer the low-priced fuel to the community, and he expected prices to decrease more in coming weeks.
Tyrone said it was catch-22 when it came to the pricing of the Oaks Beach Store fuel, and sometimes it worked in their favour, like now, and other times it deterred customers from filling up at Burnett Heads.
“There’s a reason why our prices change very fast,” Tyrone said.
“We don’t have a huge storage facility out here, so our prices change very fast, and when it’s on the down we sell more faster which is good news for us, and our customers.”
Global oil prices have been decreasing since December amid the COVID-19 outbreak, and a price war between large producers Saudi Arabia and Russia.
Tyrone said the Oaks Beach Store fuel price was influenced by the terminals in Brisbane, and when those prices fell it wasn’t long before he followed.
“We are usually pretty competitive, but when the Brisbane terminals drop, we drop fast too,” he said.
“The last time it was a bit under 120 cents was in June 2018.
“We are not sure how long it will last but we pass the price on as soon as we can each time.”
Tyrone said the only conundrum they faced was the chance they could run out of diesel before the next delivery arrived on Sunday, 22 March.
He assured community members there was no need to panic buy their fuel, saying it looked like prices would continue to fall in the coming weeks.
“We normally have a delivery every one or two days, except over the weekend,” Tyrone said.
“I expect our unleaded will be fine, and we will have more on Sunday, so there’s no need to panic buy.
“Go easy, the price won’t rise anytime soon.
“We’d like to thank the locals who are always great, and they support us regardless.”
Oaks Beach Store is open seven days a week, from 5am to 6.30pm, it also offers a convenience store for grocery needs.
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