Yet as many metropolitan cities such as Sydney and Melbourne offer a price average of around $1.10 per litre and some outlets below the dollar, regional towns like Yass are copping average prices at least 12 cents higher.

In the recent report from the ACCC on monitoring automotive fuel price movements in major cities and around 180 regional locations around Australia, it stated that there are four contributing factors as to why fuel prices are generally higher in regional Australia compared with the larger capital cities. 

These included; lower population and demand resulting in fewer outlets, leading to less competition. Higher costs for transport and storage of fuel. Less demand for convenience sales like drinks, food and newspapers which generally have higher margins and enable sites to remain profitable on lower margins on fuel sales. And the location of outlets – whether or not they are on a highway and likely to attract a high number of customers.

A spokesperson from Caltex Australia, Sam Collyer, said the price gaps could be due to the amount of fuel sold, convenience and freight costs. 

“Retailers can set the price as they deem fit. The ACCC monitor it making sure they are acting in accordance with the law, but retailers are free to compete as much as they want. It’s just the nature of enacting their own business strategy,” Mr Collyer said. 

He believes that the decrease in Australian retail petrol prices over the past few weeks reflects international benchmark prices for refined petrol, and domestic fuel taxes. In the short term, prices reflect the pricing policies of individual retailers.

“Australian retail prices are heavily influenced by two factors; the big components are cost of the product as the price is benchmarked internationally and Australia is competing against many of the refineries overseas. The other factor is tax. Between these two factors it influences 80 percent of the cost,” he said.    

The Yass Valley's cheapest option at the time of writing was E-10 unleaded fuel at the United service station on Comur Street. It was charging 122.7 cents per litre.

The Caltex stations in Yass, off the Hume Highway and Murrumbateman had E-10 going for 122.9 cents a litre. Wednesday’s most expensive fuel was found at Delta Agribusiness with a charge of 136.9 cents a litre for unleaded.

With this real reduction in the cost-of-living, neither the ACCC or suppliers are able to forecast retail fuel prices. However, if the international benchmark for refined petrol remains around recent levels, or trends lower, the ACCC anticipate that Australian retail petrol prices would be likely to reflect the price movements.

Mr Collyer believes that as long as the international benchmark is low, locals could see the prices stay the same or drop even further.