On Wednesday,  the Enhance petrol station at Albion Park was selling E10 fuel at 99.9¢ a litre, with unconfirmed reports of similar prices elsewhere.

The low prices are part of a sustained drop not seen in Australia since 2009, according to NRMA president Kyle Loades.

According to Mr Loades, Wollongong is second only to Sydney when it comes to the lowest petrol prices in the state.

Figures from the NRMA put the average price for standard unleaded in Wollongong at $1.15 a litre, while Sydney is averaging $1.08.

The petrol price range for standard unleaded in Wollongong is 106.5¢ to 137.9¢ a litre – E10 is usually five to six cents cheaper.

‘‘It’s good news for Wollongong motorists – there’s certainly more money in their hip pocket,’’ Mr Loades said.

‘‘We would advise people to shop around. In Wollongong, when you see a range of $1.06 up to just under a $1.40, anything $1.15 or under is good value but if you see anything more than that, keep driving until you can get one cheaper.’’

Mr Loades said the price drop of almost 50¢ a litre was the result of an oil glut brought on by competition between the Organisation of Petroleum Exporting Countries (OPEC) and the United States.

Mr Loades said the price has fallen for 55 consecutive days and he expected it to stay at this level or drop a bit further for ‘‘at least the next week or so’’.

But the lower prices are not being enjoyed by everyone.

According to Gilmore MP Ann Sudmalis, the cheap petrol prices haven’t been seen further down the South Coast.

The cheapest E10 blend she could find in Nowra on Wednesday was 119.9¢ a litre.

‘‘Over the last few weeks we have seen record low fuel prices across Australia, yet there is still a 20¢ price difference for E10 unleaded between Albion Park and Nowra,’’ Ms Sudmalis said.

Mr Loades said regional areas often saw higher prices due to a lack of competition from independent station owners.

However Ms Sudmalis will be calling on the Australian Competition and Consumer Commission (ACCC) to investigate the South Coast fuel market now the organisation has been given a directive to monitor regional fuel prices.

‘‘I have listened to the concerns of our community and businesses about the appalling price disparity of fuel south of Albion Park and have been repeatedly raising these concerns in Canberra directly with the Small Business Minister (Bruce Billson),’’ she said.

‘‘As part of the new directive, the ACCC will conduct at least four investigations a year. I am pushing strongly for the South Coast to be one of those review markets.’’