Rising wholesale fuel prices combined with lower than average fill volumes over the holiday period in January has caused petrol price cycles to slow around the discount phase. Prices are expected to drop due to increased competition between retailers as schools and businesses return to normal next week.
Brisbane
Current ULP average: 178.1cpl
Price range over the last week: 145.5cpl – 190.9cpl
Brisbane still remains one of the highest-priced capital cities, with very little movement on the current fuel price cycle over the past week.
Sydney
Current ULP average: 178.0cpl
Price range over the last week: 143.9cpl – 191.9cpl
Many retailers upped their pump prices to match the new high price point of 187.9cpl in the current fuel cycle this week, shifting the petrol price average across the city.
Melbourne
Current ULP average: 164.0cpl
Price range over the last week: 142.9cpl – 184.9cpl
Fuel prices across Melbourne have been generally slow to drop, with this petrol price trend likely to continue until the end of the holiday period.
Adelaide
Current ULP average: 170.2cpl
Price range over the last week: 139.2cpl – 192.0cpl
After having enjoyed a run of low petrol prices, this came to an end for Adelaide motorists earlier this week when the new price cycle peaked at 187.9cpl.
Perth
Current ULP average: 156.2cpl
Price range over the last week: 146.7cpl – 179.9cpl
Perth is currently experiencing the low point of their fuel price cycle this week, with petrol prices set to rise into the 180s around next Wednesday.
Darwin
Current ULP average: 170.7cpl
Price range over the last week: 131.9cpl – 171.9cpl
Darwin experienced a slight increase in unleaded petrol prices this week.
Hobart
Current ULP average: 178.6cpl
Price range over the last week: 156.9cpl – 186.0cpl
Hobart also saw a small increase in fuel prices this week and in turn, is the highest priced capital city.
Retail diesel prices
Current Diesel averages:
ACT – 169.8cpl
Adelaide – 166.2cpl
Brisbane – 167.3cpl
Darwin – 169.0cpl
Hobart – 177.0cpl
Melbourne – 166.6cpl
Perth – 165.7cpl
Sydney – 166.3cpl
Most cities saw an increase in diesel prices, driven by rising wholesale prices which look to rise even further over the next few weeks.
Wholesale trends
An increase in wholesale petrol prices this week, with average TGP prices rising by 3.6cpl.
There was another significant increase in wholesale diesel prices, with average TGP prices rising by 5.0cpl this week.
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Information is based on average price trends up to 10 am AEDT on 24 January 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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