NRMA warns of petrol price spike ahead of long weekend

Petrol prices are set to spike this weekend.
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The average price of regular unleaded in Sydney is 196.5 cents per litre and is expected to hit a top of around 207 cents per litre by the weekend.

Despite the wholesale price for regular unleaded falling to 171.1 cents per litre Sydney’s average price fell to only 181 cents per litre last week before starting its rise.

By contrast, the average prices in both Adelaide and Perth have fallen to as low as 169 cents per litre.

In Sydney today over 36 per cent of service stations are selling regular unleaded for 174.9 cents per litre or less. However, almost one-third (31 per cent) of sites are selling regular unleaded at the maximum price of 229.9 cents per litre.

The average price for diesel in Sydney is currently 190.1 cents per litre. The diesel wholesale price is 176.3 cents per litre.

NRMA spokesperson Peter Khoury said a shift in the price cycle in Sydney, Brisbane and Melbourne meant Australian motorists no longer enjoyed competitive pricing at the bottom of the price cycle and that more service stations were charging the highest price at the top of the cycle.

“The inflationary pressures on the economy caused by high fuel prices has been reported on extensively and added to that families are exposed to higher prices in our biggest cities due to a lack of competition at the bottom and top of the price cycles,” Khoury said.

“Giving motorists the information they need to avoid higher prices and find the best price to fill up is a critical focus for the NRMA, which is why we encourage motorists to do their research on the my NRMA app before filling up this long weekend.

“If you are heading away there is every chance you will drive through or to a place where petrol prices are cheaper.”

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