Energy drinks have become the new hot topic in Australia, with some retailers reporting their prices have dropped by 20 per cent.
The latest data shows that on July 1st, the wholesale price for the first 12 months of this year was $14.29, while it had dropped to $10.96 on July 20th.
The drop was the first time the wholesale wholesale price of energy drinks has dropped this year, according to the Australian Energy Market Operator.
On average, retailers reported price drops of 7.6 per cent for the month of June.
But the biggest drops were for the energy drink category, with price drops by as much as 30 per cent on average.
One Energy drink, for example, dropped by 60 per cent in the same period, according the ANZ Energy Drink Price Index.
“When a product becomes more expensive, people have less incentive to buy it, particularly for those in higher income brackets,” said Richard Leach, chief executive of the Australian Institute of Energy Retailers (AIEER).
“When prices fall, people are more likely to opt for cheaper alternatives such as energy drinks.”
While there’s no specific way to tell how much a particular energy drink is costing you, some retailers have reported the price drops for some brands have exceeded the average retail price.
For example, the cheapest energy drink for July 20 was $10 a can, but a few months ago, it was $12.
That’s the same price as a bottle of Coke.