From a high of around 164 cents a litre for regular unleaded in the middle of last month, the price at the bowser has been falling.

And falling. And falling.

A number of Illawarra stations are selling unleaded for prices in the mid 130-cent range; that’s more than 10 cents less than the low point of the last price cycle.

According to the NRMA’s Rebecca Page, fuel prices haven’t been this low since August.

“These falls are not normal,” Ms Page said.

“We’re seeing a sharp dip that we’re in right now and we do expect that dip to continue for a little while.

“It’s a much sharper decline in prices than we did anticipate – which is excellent news.”

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The depth of the falls were unanticipated but were the result of factors largely outside Australia.

“It’s because of world oil prices falling,” Ms Page said.

“They’ve been consistently falling now for about a month because of an increase in oil production. The OPEC nations have significantly increased output after keeping it artificially low for most of 2018.

“Saudi Arabia is now at two-year highs, Libya is at five-year highs so there’s a lot more oil on the market.

“Combined with a stronger Australian dollar means we’re finally getting a little bit of relief at the bowser.”

As of Monday afternoon, the lowest price for regular unleaded in the Illawarra was 132.9 cents at several service stations along the highway at Albion Park Rail.

The highest price you could pay for unleaded was 151.9 cents at Caltex Thirroul.

That’s a price range of 19 cents, making it well worth motorists’ looking around to find a good deal.

While the abnormal price cycle makes predicting a low point tricky, Ms Page said the prices could end up falling a bit more.

“You could hold off for a little bit but be wary,” she said.

“These are really good prices comparatively and as always shop around because at the end of the day service stations can change what they like.”