Fuel prices are sliding rapidly and motorists can expect more relief at the bowser before Christmas.
The average national petrol price fell about 10 cents to around $1.40 a litre in November thanks to a global oil glut and a stand-off among oil producing nations.
Motorists in capital cities have done even better, with the average price of unleaded petrol in Sydney dropping 13 cents in the past 12 days according to the NRMA.
And prices should fall further before Christmas.
CommSec chief economist Craig James expects the average national price to fall to around $1.25 within weeks.
The NRMA also expects Sydney prices to drop to about $1.27 before Christmas and then slide to $1.22 by the start of 2015.
"That means we are going to see some bowser prices that we haven't seen in a long time," NRMA spokesman Peter Khoury said.
The welcome slide in prices at the petrol pump are thanks to fuel prices in Singapore, the benchmark for Australian prices, having fallen to five-year lows.
Oil prices have dropped more than 30 per cent since July due to an oversupply in the market.
Mr Khoury said the organisation would be closely monitoring Australian petrol stations to make sure the lower prices were passed on.
"(Singapore's) Mogas is at a five-year low and its time motorists started to see it at the bowser," he told AAP.
CommSec's Craig James said the rapid slide in oil prices has boosted the profits of petrol retailers and he expects they will pass the benefit on to consumers in the next few weeks.
"Right now the difference between the retail and the wholesale price is closer to 15 or 16 cents, rather than eight or nine cents as it is normally," he said.
"So we would expect to see that gap narrow."
Mr James said cheaper petrol prices could give Australian consumers an extra $2 to $3 billion to spend this Christmas.
"It's clearly going to unleash spending power for consumers," he said.
And he said while it was difficult to forecast future oil price movements, the current battle between US shale oil producers and the Saudi-Arabia-led OPEC countries could keep prices lower for longer.
WHAT IT'LL COST YOU TO FILL UP
* Sydney - 133.9 cents a litre
* Melbourne - 126.5 cents
* Brisbane - 135.9 cents
* Adelaide - 133.2 cents
* Perth - 128.4 cents
* National - 140 cents
(Source: Australian Institute of Petroleum)
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