It is hard to see fuel prices evening out or returning to ‘normal levels’, as the volatility and unpredictability of crude oil markets are causing significant surges in barrel prices. It is expected that retail prices will continue to rise over the coming weeks due to a lag in supply and slow stock replenishment.
Brisbane
Current ULP average: 179.3cpl
Price range over the last week: 159.7cpl – 210.9cpl
The next fuel price cycle is due for Brisbane, however there is no indication of it commencing just yet. Motorists can expect to see the price of unleaded petrol at around the 210cpl mark during the next peak.
Sydney
Current ULP average: 181.9cpl
Price range over the last week: 165.9cpl – 205.9cpl
The rapid rise in wholesale fuel prices has yet again discouraged retailers to discount, with the average price of petrol only slightly decreasing this week. Like Brisbane, there is no indication of a new fuel price cycle, but it is imminent.
Melbourne
Current ULP average: 193.7cpl
Price range over the last week: 165.9cpl – 213.9cpl
There seem to be two price points for unleaded petrol in Melbourne this week – 199.9cpl or 189.9cpl, depending on the suburb. There are still many retailers offering fuel at around the 170cpl mark, so motorists do have the opportunity to shop around and save.
Adelaide
Price range over the last week: 161.9cpl – 200.2cpl
Another significant peak in the current petrol price cycle is expected soon for Adelaide, so with average fuel prices the lowest of all capitals this week, now is a great time to fill up.
Perth
Current ULP average: 179.7cpl
Price range over the last week: 165.7cpl – 199.9cpl
The new fuel price cycle is expected to start today, with petrol prices set to experience a huge rise. Looking at the rapid movement of wholesale prices over the past couple of weeks, unleaded petrol could very well jump to 215cpl (and beyond!)
Darwin
Current ULP average: 188.5cpl
Price range over the last week: 131.9cpl – 189.9cpl
Just a moderate change in average fuel prices for Darwin this week.
Hobart
Current ULP average: 197.3cpl
Price range over the last week: 156.9cpl – 205.9cpl
Hobart still holds the title for highest average fuel price out of all the capital cities.
Retail diesel prices
Current Diesel averages:
ACT – 190.4cpl
Adelaide – 185.3cpl
Brisbane – 186.4cpl
Darwin – 190.2cpl
Hobart – 194.9cpl
Melbourne – 186.2cpl
Perth – 184.5cpl
Sydney – 186.3cpl
The cost of diesel continues to reflect the rise in wholesale prices.
Wholesale trends
Wholesale petrol prices increased this week with average TGP prices going up by a significant 8.0cpl.
Wholesale diesel prices also increased this week with average TGP prices rising by a massive 10.8cpl.
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Information is based on average price trends up to 10 am AEDT on 7 March 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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