Petrol prices set to drop

FUEL prices are set to fall as oil prices worldwide plunge, and it couldn't have come at a better time for Coffs Coast retirees.

The national average price of unleaded has fallen to $1.50 a litre, according to the Australian Institute of Petroleum, and that figure is likely to drop even further in the next two weeks.

“If the Aussie dollar and the Singapore unleaded price manage to hold steady in coming days, motorists are likely to benefit,” Commsec equities economist Savanth Sebastian said.

That's good news for Coffs Coast retirees, with the Association of Independent Retirees (AIR) noting the impact high fuel prices are having on our aged population.

“The continued high cost of fuel is a substantial drain on retirees' income,” said Coffs Harbour AIR deputy president Floyd Ballard.



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