You maybe paying under $1 per litre for petrol at many bowsers around Australia - but experts say, the price may fall even further....
As global oil prices continue to slide, we may see further reduction in the cost of fuel around the country -- 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.
But local petrol prices have only declined by 15 per cent in that same time.
Manpreet K Singh looks into why.
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