General
Wholesale Gas Prices are Down but Aussies Still Pay too Much
If there’s one good thing to come from COVID, it’s the pandemic’s part in driving down gas prices in Australia.
The latest gas report by the Australian Competition & Consumer Commission (ACCC) has revealed that gas prices fell significantly over the last year.
The ACCC has observed that wholesale gas prices fell from $8-14/GJ in 2019 to $6-8/GJ by mid-2020. Confused? The gist is that when it’s cheaper to buy gas, it’s cheaper to sell it, too.
This drop was thanks to record low oil and Liquefied Natural Gas (LNG) spot prices that were exacerbated by the coronavirus pandemic.
ACCC Chair, Rod Sims, has suggested that businesses could be set to benefit most from this news.
“The fall in gas prices…
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