With most capitals now experience the excise reinstatement retailers will be absorbing this into their current margins – rather than being added to pump prices. We’re likely to see new price cycles over the coming weeks with retailers looking to recoup the margin lost as a result of this. For Perth however, this is a good time to fill up now with most other states looking at 2 weeks before filling up again.
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Brisbane
Current ULP average: 188.4cpl
Price range over the last week: 153.9cpl – 195.9cpl
Little movement over the past week for Brisbane, this is likely due to small competitive adjustments with the additional excise being absorbed into margins.
Sydney
Current ULP average: 188.3cpl
Price range over the last week: 154.8cpl – 201.9cpl
Similar to Brisbane, prices have stayed steady ahead of the excise coming into wholesale prices.
Melbourne
Current ULP average: 186.7cpl
Price range over the last week: 148.2cpl – 204.7cpl
Melbourne is following suit, prices are expected to stay high ahead of the excise.
Adelaide
Current ULP average: 189.5cpl
Price range over the last week: 145.4cpl – 220.0cpl
Adelaide managed to run another price cycle just before the excise was reinstated – with that, we are unlikely to see any discounting for the next week or so.
Perth
Current ULP average: 169.4cpl
Price range over the last week: 138.9cpl – 199.9cpl
With the new price cycle underway, it’s likely to see prices peak to the new price of $2 per litre. Average prices did lift ahead of the excise though.
Darwin (no price cycle)
Current ULP average: 170.3cpl
Price range over the last week: 163.5cpl – 176.9cpl
Little to no movement again for Darwin thus far, we’re expecting to see prices increased to approximately 25cpl over the next week or so.
Hobart (no price cycle)
Current ULP average: 175.5cpl
Price range over the last week: 158.9cpl – 195.9cpl
Similar to Darwin, Hobart also saw little to no movement. Over the next two weeks, expect to see the full effect of the excise – we’ll keep you up to date on how this impacts across all states.
Retail diesel prices
Current Diesel averages:
ACT – 212.4cpl
Adelaide – 196.1cpl
Brisbane – 207.8cpl
Darwin – 206.8cpl
Hobart – 213.5cpl
Melbourne – 206.7cpl
Perth – 202.8cpl
Sydney – 209.6cpl.
With the reinstatement of the excise, Diesel prices have increased and will continue to do so over the coming week or so – we’re expecting average prices to level out to approximately 230-240cpl.
Wholesale trends
Wholesale petrol prices increased this week with average TGP prices going up by 24.3cpl (excluding excise, the real movement was 1.0cpl decrease).
Wholesale diesel prices increased this week with average TGP prices going up by 25.4cpl (excluding excise, the real movement was 0.1cpl increase).
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Information is based on average price trends up to 10 am AEDT on 3 October 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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