Yiorgos Babatsias’ family business operates several service stations in Melbourne for decades now, and says the fuel price fluctuations in the last few days were last seen back in… 1985!
“This is unprecedented, from what I’ve been told this hasn’t happened for the last 30 years.
“In Melbourne, the price per liter has dropped to less than 99 cents, and in some areas even lower at 79 cents,” Mr Babatsias tells SBS Greek.
While demand can differ from suburb to suburb, overall he says it has been halved.
Mr. Babatsias estimates that prices will continue to plummet for the next couple of weeks.
“We will see the average price in Melbourne dropping to 75-79 cents already within the next seven to 10 days.”
And while recent developments have helped consumers save money, they could also have an adverse impact for the industry’s workforce.
“Everybody is trying to keep their staff on the payroll – we need to keep these people who worked alongside us all these years employed during the crisis and after the storm passes,” says Mr. Babatsias.
Please note, this podcast is in Greek.
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