The predicted rain held off for the third hour-long session of the weekend, with crews largely focussed on pitstop practice during the early running.
In between practice stops the times swiftly tumbled, Shane van Gisbergen starting out in the mid-2m06s before dipping into the low fives on his next run.
By the seven-minute mark Brodie Kostecki was into the late fours before, a little over 10 minutes later, Cam Waters lowered the benchmark to a 2m04.573s.
Waters improved that time to a 2m04.407s before handing over to co-driver James Moffat for the last quarter of the session.
However the first time was good enough for top spot with a two-tenths margin over the Waters/Moffat Mustang.
It was the second time the #17 Shell Mustang has topped a session after Davison was fastest in Practice 1 on Thursday morning.
"Two sessions now and we're at the top," said Davison. "We don't look into that too much, because we know there's lots going on, but clearly we're trending in the right direction.
"We're trying some stuff because we weren't good enough here last year. I'm really glad we've got some dry running to get the knowledge that we have. We our outside our normal window.
"It's really enjoyable. The track is definitely not as good as yesterday. All in all, track felt worse, but we've made some good ground."
Kostecki got down to a 2m04.508s to seal third spot, while Tim Slade made late gains to pop up in fourth with a 2m04.591s.
Thomas Randle was ninth while van Gisbergen could manage just 10th after mid-session efforts to improve were twice ruined by front locking.
That followed a starter motor problem yesterday morning that limited running and left Stanaway dead last in this session.
The action continues with Practice 4 at 1pm local time.
|Ford Mustang GT||24||2'04.2077|
|Ford Mustang GT||20||2'04.4070||0.1993|
|Holden Commodore ZB||20||2'04.5084||0.3007|
|Ford Mustang GT||19||2'04.5916||0.3839|
|Holden Commodore ZB||19||2'04.6170||0.4093|
|Holden Commodore ZB||20||2'04.8906||0.6829|
|Holden Commodore ZB||18||2'04.9542||0.7465|
Anton De Pasquale
|Ford Mustang GT||20||2'04.9714||0.7637|
|Ford Mustang GT||22||2'05.0096||0.8019|
Shane van Gisbergen
|Holden Commodore ZB||20||2'05.0372||0.8295|
|Holden Commodore ZB||21||2'05.0463||0.8386|
|Ford Mustang GT||17||2'05.0535||0.8458|
|Ford Mustang GT||20||2'05.0998||0.8921|
|Holden Commodore ZB||22||2'05.3262||1.1185|
|Holden Commodore ZB||20||2'05.3739||1.1662|
|Holden Commodore ZB||22||2'05.4100||1.2023|
|Holden Commodore ZB||20||2'05.4520||1.2443|
|Ford Mustang GT||23||2'05.4666||1.2589|
|Ford Mustang GT||21||2'05.5918||1.3841|
|Holden Commodore ZB||17||2'05.5995||1.3918|
|Holden Commodore ZB||21||2'05.7797||1.5720|
|Holden Commodore ZB||15||2'05.8353||1.6276|
|Holden Commodore ZB||19||2'06.0132||1.8055|
|Holden Commodore ZB||21||2'06.1114||1.9037|
Jack Le Brocq
|Holden Commodore ZB||20||2'06.5400||2.3323|
|Holden Commodore ZB||22||2'06.7102||2.5025|
|Holden Commodore ZB||21||2'07.0021||2.7944|
|Holden Commodore ZB||12||2'07.1515||2.9438|
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