While the average price for unleaded petrol in Mudgee is around the middle point for the Central West/West region as a whole, it's possible - with further drops expected - that local figure could soon dip below a dollar per litre.
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The global oil market is in crisis as leading producers struggle to curb supply sufficiently to counter the huge destruction in demand from the COVID-19 crisis. The global economic lockdown has reduced consumer demand with commuters working from home, factories shut down and airlines hit by travel bans.
Even reaching the point where producers were paying to have the oil taken off their hands.
"Prices have been falling considerably over the last eight weeks. And Mudgee has dropped 38.3 cents during that time and people would say it's welcome with all of the struggles that are happening not only with coronavirus, but with the drought there as well," NRMA spokesperson Bridget Ahern said.
At the week ending April 26, Mudgee's average price for regular unleaded was 111.7c/l, which was down 9.1 cents on seven days prior.
However, by Friday the average would've been closer to 105c/l with all local stations selling below 109c/l. The cheapest being 99.9c/l at Shell Mudgee on the Sydney Road.
And with Australian motorists likely to see further fuel price falls over the coming days, Ms Ahern said it's "highly possible" we could see the average for the town fall below a dollar.
"We're seeing averages in Sydney of 91 cents, but you can get it for about 75 cents, which is cheap any way you look at it," she said.
"Regional areas never get as low as Sydney does, it's just an extremely competitive market and there's so many independent retailers in that space.
"But that's not to say Mudgee won't experience a few more cents off. And we're hoping the Mudgee average will hit 99 cents in the coming week or so."
She added that the best thing consumers can do is to fill up at the cheapest petrol station, in order to send a message.
Saudi Arabia, Kuwait, Algeria and Nigeria all began production cuts ahead of the May 1 start date for OPEC supply cuts of 9.7 million barrels per day.
However oil traders don't believe the reductions will be enough to balance the oil market. Furthermore, and any expected effect on prices will be a while off.
