Petrol prices have fallen by almost a third in the past two year and are expected to keep falling as oil producing nations boost production.
Petrol prices are expected to keep falling as the major oil producing countries fight for market share by increasing production.
Oil prices have almost halved this year, falling to an 11-year low below $US40 a barrel as the market gets flooded with more supply in order to push high cost producers out of the market by making prices lower.
That's sent petrol prices down to an 11 month low below $A1.10 a litre, from its recent high above $A1.50 a litre early in 2014.
CommSec chief economist Craig James said as long as countries like Saudi Arabia are determined to shore up market share, Australian bowser prices will fall.
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