FuelWatch lists Perth's cheapest fuel site as Costco for 2020

FuelWatch lists Perth's cheapest fuel site as Costco for 2020

Wholesaler Costco has been named the State’s cheapest spot to fill up in FuelWatch’s hunt for the best bargain prices on petrol in 2020.

The fuel monitoring service recorded an average ULP price of 95.1 cents per litre at Costco across the year, compared to the metropolitan’s average of 119 cpl.

The members-only bulk buying supermarket has wowed Perth customers since its March 2020 launch, which attracted lines in their thousands to the airport-based store along Dunreath Drive.

Last year’s average for Perth was still lower than 2019’s recorded 140.2 cpl.

With Costco’s discount fuel only available to members, Liberty at Gosnells — which is open to the general public — was also awarded first place with an annual ULP average of 102.9 cpl.

Perth’s weekly price cycle lists Mondays and Tuesdays as the cheapest days and Wednesdays and Thursdays the most expensive.

Filling up at the cheapest site every week could save motorists up to $1,180 a year, according to Commissioner for Consumer Protection Lanie Chopping.

Ms Chopping said Perth retail rates had been influenced by “extremely volatile” international prices in 2020.

“The first four months saw the ULP benchmark and world oil prices decrease substantially and very quickly mainly due to lower world demand as travel restrictions, aimed at abating the spread of COVID-19,” Ms Chopping said.

“By the end of April, the weekly average price of ULP in Perth was 96.6cpl — the lowest in 15 years.

“By July, local prices increased in line with partial recoveries in international prices as many parts of the world came out of lockdown and oil exporting countries reduced supply.”

FuelWatch marks 20 years of releasing its annual list of sites that consistently have bargain prices this year, with the first price report on January 3, 2001 when the average price of ULP was around 85 cpl.

During that time, the lowest price of 69.9 cpl was recorded in October 2001 and the highest price of 172 cpl was recorded from June to August 2008.