Petrol prices are set to drop below a $1 dollar per litre in coming weeks across Newcastle according to the NRMA

Service stations around Newcastle could be seen selling e10 petrol for around 101 cents per litre on Wednesday but prices are set to drop even further due to a decrease in crude oil prices and a rise in the Australian dollar.

NRMA chairman, Kyle Loades, says motorists can be the beneficiaries of cheaper fuel in the coming weeks due to a number of factors.

“Petrol pricing over the last week has dropped by about 15 cents per litre on the back of international crude oil pricing coming down and the Aussie dollar rising meaning the pump price has reduced which is great news for motorists,” Loades stated.

If the prices were to drop lower than a dollar per litre it would be the first time since early 2016.

NRMA also predict the more competition of service stations in an area, odds are that you will find cheaper fuel.

“Good examples are Charlestown and Islington where there are two or three service stations, other areas where there are also two or three is where you should shop if you simply go to one location which is isolated odds are it will be more expensive.”

The price of fuel will go lower than the dollar value but won’t go much lower than that so motorists should take advantage of the lower prices now.

Photo courtesy Equal Access Pty Ltd