Unleaded petrol remained at an average of 140.5 cents per litre in Bendigo over the past week, down from the beginning of January and close to 10 cents lower than this time last year.

Australian Institute of Petroleum figures show the weekly average has been the cheapest since August 2012 when it was last at 140.5 cents per litre.

RACV vehicle engineering manager Michael Case said the prices were low, but would range heavily over the coming days.

“Price cycles are now much more irregular and can last a fortnight or longer,” he said.

Mr Case said that petrol cycles over the following year would see a greater leap between the high and low point of the cycle, meaning prices could jump or fall up to 20 cents in a fortnight.

In Melbourne, the previous price cycle increase was the highest recorded in recent times, before the price reached a steady 139 cents per litre this week. 

Mr Case said that Bendigo was generally more expensive than Melbourne, but was usually more stable and didn’t tend to fluctuate as often.

Echuca was the only regional centre with average weekly prices cheaper than Bendigo for petrol this week, at 138.7 cents per litre.

Diesel prices in Bendigo were at an average of 149.9 cents per litre this week, with regular supply restored after a recent shortage.