This week we witnessed some extreme examples in wholesale price movements between petrol and diesel. The movements are based off Singapore spot prices, and while these prices often move independently of each other, it’s rare for one to go up by 8cpl and the other one to go down by 6cpl. This is a striking example of the volatility in the market that’s created by current uncertainty in both supply and demand.



Current ULP average: 209.9cpl

Price range over the last week: 165.5cpl – 219.9cpl

In the last week, the rest of Brisbane reached new peak prices of either 215.9cpl or 219.9cpl, which resulted in the average moving up significantly. The continuing rise of wholesale petrol prices has also possibly slowed the beginning of a discounting cycle in certain areas.



Current ULP average: 207.5cpl

Price range over the last week: 169.5cpl – 229.9cpl

Much like last week, Sydney is again in a very similar situation to Brisbane. This is most likely because the pressure from the increasing wholesale prices is triggering the rest of the market to move up.



Current ULP average: 201.2cpl

Price range over the last week: 167.9cpl – 220.7cpl

Although Melbourne is a little further along in the discounting stage of its price cycle, there was almost no change in the average price in the past week.



Current ULP average: 206.5cpl

Price range over the last week: 168.9cpl – 220.6cpl

Adelaide has just seen a new peak price of 215.9cpl. There are still a handful of retailers who have not increased their prices, but it’s likely that this will change soon.



Current ULP average: 199.3cpl

Price range over the last week: 168.7cpl – 219.7cpl

Perth is currently mid-cycle, and the low point is expected next Tuesday, 31st of May 2022.


Darwin (no price cycle)

Current ULP average: 197.4cpl

Price range over the last week: 131.9cpl – 199.9cpl

In the last week, Darwin prices increased by approximately 5cpl. The prices will likely keep rising due to the significant increases in wholesale prices.


Hobart (no price cycle)

Current ULP average: 199.1cpl

Price range over the last week: 168.9cpl – 219.9cpl

Hobart is in a similar situation to Darwin, with more price increases expected to follow.


Retail diesel prices

Current Diesel averages:

ACT – 210.6cpl

Adelaide – 207.2cpl

Brisbane – 210.5cpl

Darwin – 208.9cpl

Hobart – 219.4cpl

Melbourne – 209.1cpl

Perth – 205.7cpl

Sydney – 208.6pl


The wholesale diesel prices seem to have peaked for the time being, as there hasn’t been a lot of movement in average prices this week.


Wholesale trends

Wholesale petrol prices rose this week, with average TGP prices increasing by 8.5cpl.

Wholesale diesel prices decreased again this week, with average TGP prices dropping by 6.0cpl.


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Information is based on average price trends up to 10 am AEDT on 23 May 2022. The predictions are based on past fuel price trends and estimated forecasts, and should not be taken as a guarantee of actual or future performance. Fuel price data is aggregated from state government price reporting schemes and from WEX Australia fuel card transactions. Please note: Hobart and Darwin do not experience price cycles.


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