Fuel prices have skyrocketed all over the country again this week – led by peak prices of 196.9cpl in Brisbane. Interesting to think back to around 2 years ago when the average cost of petrol was around 99cpl!
The combination of the weakened Australian and US dollar in recent weeks plus political unrest in Europe and the Middle East have caused a massive 7 year high in crude oil prices, driving up the cost of petrol.
Brisbane
Current ULP average: 170.0cpl
Price range over the last week: 150.9cpl – 200.0cpl
Brisbane hit a record peak price of 196.9cpl for unleaded petrol this week, marking the start of their new fuel price cycle.
Sydney
Current ULP average: 169.7cpl
Price range over the last week: 151.7cpl – 189.9cpl
Again, no real fluctuation in fuel price averages across Sydney this week.
Melbourne
Current ULP average: 183.6cpl
Price range over the last week: 151.7cpl – 197.9cpl
Melbourne took the reins of being the highest priced capital this week, with fuel price peaking at around 193.9cpl. This high fuel price trend is indicating that the city has entered a new petrol price cycle this week.
Adelaide
Current ULP average: 181.2cpl
Price range over the last week: 147.9cpl – 195.6cpl
Thankfully for Adelaide motorists, fuel prices are on the way down after hitting a peak of 189.9cpl last week.
Perth
Current ULP average: 165.3cpl
Price range over the last week: 153.9cpl – 190.0cpl
Prices are set to rise today but there may still be a few retailers who haven’t yet increased their fuel prices, so fill up if you see petrol prices in the 160’s – 170’s before they rise into the high 190’s.
Darwin
Current ULP average: 178.2cpl
Price range over the last week: 131.9cpl – 179.9cpl
A huge 7.5cpl rise in fuel prices this week – quite a contrast from the trends we have been seeing over the past month for Darwin.
Hobart
Current ULP average: 181.8cpl
Price range over the last week: 156.9cpl – 188.9cpl
Hobart experienced a small increase in average petrol prices this week
Retail diesel prices
Current Diesel averages:
ACT – 175.6cpl
Adelaide – 173.4cpl
Brisbane – 174.5cpl
Darwin – 178.4cpl
Hobart – 183.1cpl
Melbourne – 172.7cpl
Perth – 172.9cpl
Sydney – 172.8cpl
Diesel prices have increased substantially this week across the country.
Wholesale trends
A large jump in wholesale petrol prices this week, with average TGP prices increasing by 5.0cpl.
Wholesale diesel prices also increased this week, with average TGP prices rising by 4.6cpl.
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Information is based on average price trends up to 10 am AEDT on 7 February 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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