Melbourne petrol price trends January 2001 to July 2004

It is interesting that in recent months as world price pressures have increased, margins have reduced as shown by reductions in my Osama Index.  Note how in the second half 2003 the Oilco's kept prices high, failing to pass on  the effect of the full price fall in world oil.  Note (Perth pump prices are usually just above Melbourne but from March 2004 Perth prices have slipped under Melbourne, probably due to competition between Woolworths and Coles.)
Melbourne pump prices

It is also interesting that the recent monthly average Melbourne pump prices are less than the Singapore  import petrol price index. Are pump prices being kept low to reduce media attention, election due, what does it all mean ?
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