Oil Price

Petrol prices still have some way to fall as global oil prices continue to slide. That's the view of Australia's consumer affairs monitor, the Competition and Consumer Commission. Oil production remains high despite a slowdown in China. That's one of the reasons why crude (oil) has lost 50 per cent of its value since the middle of last year.

The slide in crude oil prices is turning out to be positive for consumers and user industries. (AAP) Source: AAP

Why local petrol prices have only declined by 15 per cent in that same time.