Petrol prices have been shaken up in Canberra by the opening of the Costco petrol outlet at Majura Park.

For most of the last year unleaded petrol in Canberra hasn’t ventured below $1.50 a litre.  Up until a month ago it was anchored around $1.55 at most outlets.

There’s no doubt that we get ripped off in Canberra. They take us for fools.  Petrol in Sydney is often 20 cents a litre cheaper.  It’s robbery.

Downward pressure has come from the international oil price which has seen Canberra petrol creep back in to the $1.40’s.  Up until yesterday the cheapest price we’d seen in Canberra was $1.43, but most of it was selling a smidge under $1.50.

That all changed today with the opening of the Costco petrol outlet.

I did an unscientific city wide survey this morning on way home from work starting with the servo in Mitchell around the corner from the radio station.

The Costco opening had no effect in Mitchell with a price of $1.45.9

imageI cruised on down to the Federal Highway at Watson to check things out there.  No change at Watson at 11am this morning with $1.46.9 for the unleaded.

imageOff to Braddon next where prices often move early.  But it wasn’t to be this time around.  The servos at Braddon were still hovering around the mid $1.40s.

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So I’ve headed off to Costco.

I wasn’t disappointed. At Costco at Majura Park in Canberra, I found petrol prices that haven’t been seen for years in the capital.

imageTo qualify for that price, you must be a member of Costco. Membership costs $60 per year.  I’m a member so giddy up.  The process is a little clunky.  There were staff 50 metres in front of the bowsers reminding you that you’d need your membership card and that payment was by credit card only.  When you get to the bowser, you must insert your membership card into the bowser and then  preselect how much petrol you want to purchase.  I went with $80, which I figured would fill the tank.  It did.  I had to look twice at the price on the bowser.

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Costco’s opening has rattled the Woolworths Caltex outlet at Majura Park.  At midday today they were selling unleaded for just over $1.30 a litre. haven’t seen that price from them for years.image

I headed off down the Monaro Highway to see if Costco had made in impact in Hume.  The answer is yes.  At Hume the price for unleaded was $1.41.9

imageIn the deep south at Calwell,  Costco had  no effect.  The Caltex outlet at the Calwell Centre was in the mid $1.40s

imageIt was sensational to buy petrol at $1.26 a litre at Costco. Not sure how long that price will stick around or what effect it’s going to have on the rest of the market but time will tell.