Drivers in some of Sydney's inner west and southern suburbs were ecstatic to find petrol prices drop as low as 99 cents on Tuesday, for the first time since 2009. Independent retailers in the suburbs of Tempe and Hurstville have continued to sell cheap E10 petrol on Wednesday, with low prices expected to continue across the country for the next couple of weeks due to heightened global supply. An employee from Metro Petroleum in Revesby told Daily Mail Australia that the station had queues of excited people taking advantage of the offer by filling their tanks straight to the top. Petrol prices fell to 99 cents in Sydney's inner west and southern suburbs suburbs of Tempe and Hurstville . 'They're all taking pictures and saying they haven't seen it for so long, like for 20 years or something,' the employee, Elie, said. Petrol prices have been slowly falling across Sydney over the last few weeks and are unlikely to stop soon, according to National Roads and Motorists' Association spokesperson, Peter Khoury. 'The average price for petrol is currently around $1.12 and we believe it will go below $1.09 and we think it'll happen in days,' Mr Khoury told Daily Mail Australia. 'We want to be really careful not to forecast too long term because the determining factors are complete beyond Australia's control and prices can change suddenly, but we don't expect prices to go up any time in the next few weeks.' National Roads and Motorists' Association spokesperson, Peter Khoury, said the average price for petrol was likely to drop below $1.09 in the next few days . An employee from Metro Petroleum in Revesby told Daily Mail Australia that the station, which was selling E10 petrol for 99 cents a litre on Tuesday and Wednesday, had queues of excited people filling their tanks to the top . 'They're all taking pictures and saying they haven't seen it for so long, like for 20 years or something,' the employee said . Mr Khoury said that global factors were driving prices down, adding that independent retailers had a hand in lowering costs due to creating competition in the market. 'Supply is out-shipping demand - we don't see that very often in the industry,' he said. 'There is significant production in the US at the moment and Saudi Arabia are competing by increasing their own production so there is more oil in the market and that's why it's so cheap.' 'Consistently, the cheapest places for petrol are the outer suburbs of major capital cities because there are more independent stations so there's more competition. Independents are the ones putting downwards pressure on prices. Global factors are driving prices down: 'There is significant production in the US at the moment and Saudi Arabia are competing by increasing their own production so there is more oil in the market and that's why it's so cheap,' Mr Khoury said . 'There also tends to be a lot more traffic going through them [outer suburbs] so there's more volume being sold and more competition than say on the coast of Sydney where you have more local traffic.' On the contrary, Mr Khoury said that the further out of capital cities that commuters travel, the less likely prices would fall, with some areas consistently paying about 20-30 cents per litre more than the average price in the city. Of national prices, he added that Adelaide often had cheaper prices than Sydney, reaching $1.13 recently, while Melbourne was often on par with Sydney's prices. 'Brisbane for some bizarre reason never fell and has quite high petrol prices in comparison to the others,' he said. 'How cheap the prices will get down there depends on what the local independents are doing.'
Petrol prices fell to 99 cents in the Sydney suburbs of Tempe and Hurstville on Tuesday and Wednesday .
A National Roads and Motorists' Association spokesperson said the average price was likely to drop below $1.09 in the next few days .
The low rates are due to an increase in global supply from both the US and Saudi Arabia .
Prices are unlikely to grow for the next few weeks .
Drivers in some of Sydney's inner west and southern suburbs were ecstatic to find petrol prices drop as low as 99 cents on Tuesday, for the first time since 2009. Independent retailers in the suburbs of Tempe and Hurstville have continued to sell cheap E10 petrol on Wednesday, with low prices expected to continue across the country for the next couple of weeks due to heightened global supply. An employee from Metro Petroleum in Revesby told Daily Mail Australia that the station had queues of excited people taking advantage of the offer by filling their tanks straight to the top. Petrol prices fell to 99 cents in Sydney's inner west and southern suburbs suburbs of Tempe and Hurstville . 'They're all taking pictures and saying they haven't seen it for so long, like for 20 years or something,' the employee, Elie, said. Petrol prices have been slowly falling across Sydney over the last few weeks and are unlikely to stop soon, according to National Roads and Motorists' Association spokesperson, Peter Khoury. 'The average price for petrol is currently around $1.12 and we believe it will go below $1.09 and we think it'll happen in days,' Mr Khoury told Daily Mail Australia. 'We want to be really careful not to forecast too long term because the determining factors are complete beyond Australia's control and prices can change suddenly, but we don't expect prices to go up any time in the next few weeks.' National Roads and Motorists' Association spokesperson, Peter Khoury, said the average price for petrol was likely to drop below $1.09 in the next few days . An employee from Metro Petroleum in Revesby told Daily Mail Australia that the station, which was selling E10 petrol for 99 cents a litre on Tuesday and Wednesday, had queues of excited people filling their tanks to the top . 'They're all taking pictures and saying they haven't seen it for so long, like for 20 years or something,' the employee said . Mr Khoury said that global factors were driving prices down, adding that independent retailers had a hand in lowering costs due to creating competition in the market. 'Supply is out-shipping demand - we don't see that very often in the industry,' he said. 'There is significant production in the US at the moment and Saudi Arabia are competing by increasing their own production so there is more oil in the market and that's why it's so cheap.' 'Consistently, the cheapest places for petrol are the outer suburbs of major capital cities because there are more independent stations so there's more competition. Independents are the ones putting downwards pressure on prices. Global factors are driving prices down: 'There is significant production in the US at the moment and Saudi Arabia are competing by increasing their own production so there is more oil in the market and that's why it's so cheap,' Mr Khoury said . 'There also tends to be a lot more traffic going through them [outer suburbs] so there's more volume being sold and more competition than say on the coast of Sydney where you have more local traffic.' On the contrary, Mr Khoury said that the further out of capital cities that commuters travel, the less likely prices would fall, with some areas consistently paying about 20-30 cents per litre more than the average price in the city. Of national prices, he added that Adelaide often had cheaper prices than Sydney, reaching $1.13 recently, while Melbourne was often on par with Sydney's prices. 'Brisbane for some bizarre reason never fell and has quite high petrol prices in comparison to the others,' he said. 'How cheap the prices will get down there depends on what the local independents are doing.'
prices drop as low as 99 cents on Tuesday, for country for the next couple of weeks due to tanks straight to the top. Petrol prices fell to suburbs suburbs of Tempe and Hurstville . over the last few weeks and are unlikely to stop soon, according to National Roads and Motorists' Association spokesperson, Peter Khoury. 'The Motorists' Association spokesperson, Peter Khoury, said the average price for petrol was likely to drop below $1.09 in the next few days .