Sydney and Melbourne are getting closer to the bottom of the price cycles, and we may see some signs of the new peak price ahead in the next week or so. Falling wholesale prices may delay this however – or at the least see lower prices for this next peak (eg 199.9cl). Either way this is good news for motorists.
Brisbane
Current ULP average: 185.7cpl
Price range over the last week: 167.5cpl – 219.9cpl
Prices continued to fall in Brisbane, but still lagging behind Sydney and Melbourne.
Sydney
Current ULP average: 174.9cpl
Price range over the last week: 160.9cpl – 209.9cpl
Sydney average prices also continued to fall in the past week, and more considerably in the past few days. We can expect to see the first signs of the next price cycle in the next week or so.
Melbourne
Current ULP average: 179.5cpl
Price range over the last week: 169.9cpl – 200.0cpl
Similar to Sydney, Melbourne continued to fall and may be on-course for a new price cycle in the coming week.
Adelaide
Current ULP average: 189.4cpl
Price range over the last week: 160.5cpl – 214.5cpl
The market in Adelaide briefly spiked to 209.9c/L last week, but not all retailers went up to this price. Some still haven’t moved prices up at all. As a result, those that were up at 209.9cpl have now moved prices back down, or at least down to 199.9cpl.
Perth
Current ULP average: 171.5cpl
Price range over the last week: 162.7cpl – 205.9cpl
Perth average prices were lower over the past week, most likely reflecting lower wholesale prices. If these continue to fall we may see Wednesday’s expected peak to be down to 9cpl.
Darwin
Current ULP average: 181.8cpl
Price range over the last week: 175.5cpl – 187.9cpl
Only a small drop in average prices for Darwin over the past week. We could see bigger drops in the coming weeks though as a result of wholesale price movements
Hobart
Current ULP average: 190.4cpl
Price range over the last week: 179.9cpl – 197.9cpl
Hobart prices fell by approx. 3cpl, slightly more than Darwin.
Retail diesel prices
Current Diesel averages:
ACT – 200.6cpl
Adelaide – 179.6cpl
Brisbane – 192.8cpl
Darwin – 209.1cpl
Hobart – 201.0cpl
Melbourne – 191.9cpl
Perth – 183.4cpl
Sydney – 191.1cpl
Retail diesel prices continued to fall due to dropping wholesale prices and we can expect more to come in the next week or so.
Wholesale trends
Wholesale petrol prices decreased this week with average TGP prices going down by 5.7cpl.
Wholesale diesel prices decreased this week with average TGP prices going down by 6.1cpl.
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Information is based on average price trends up to 10 am AEDT on 8 May 2023. 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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