Relaxed restrictions mean petrol prices will soon rise from historic lows.
Intrastate travel restrictions are beginning to ease, so many Aussies will be keen to hit the road this long weekend.
One of the benefits of the pandemic has been ultra-low fuel prices, a fact many of you who have been holed up inside or who haven’t need to fill up the fuel tank due to so little driving may not have been aware.
According to recent analysis, average fuel prices in the June quarter dropped by around 25 cents a litre from the March quarter. Across the country, motorists paid an average of 113cpl for unleaded petrol. Fuel in Canberra cost the most at around 122cpl. Adelaide had the cheapest petrol at around 108cpl. However, prices are expected to rise this coming week.
So, motorists in Sydney, Brisbane, Perth and Canberra are advised to fill up this weekend to avoid the price rise. Melbourne and Adelaide motorists should continue to see low prices over the next few days as they near the end of their petrol price cycles.
Many Australians, except maybe those in Queensland and Western Australia, will head out on a day trip or maybe a weekend road trip over the Queen’s Birthday long weekend.
“During the height of the pandemic, petrol prices were at the lowest we had seen in decades,” said household savings expert Abigail Koch.
Travel restrictions are relaxing across the country, so motorists are advised to fill their tanks this weekend and, if they use it up on a road trip, to fill up again on their way home.
In Sydney, you’ll most likely find the cheapest fuel at Croydon Park and Strathfield South, each at just under $1cpl. Motorists should fill up their tanks as soon as possible as, according to comparethemarket.com.au, wholesale costs have stunted the normal curve of the price cycle.
In Melbourne, the region you’ll find the lowest average unleaded petrol (ULP) price is Darebin North. Steer clear of bowsers in Bayside, where you’ll pay around 10cpl more. Right now, you’ll most likely find the cheapest fuel at Montmorency. Melbourne is nearing the end of its petrol price cycle, so motorists should fill up now, as evidence shows prices at the top of the next cycle will be much higher than the current cycle.
Brisbane South had reported the cheapest average ULP prices over the quarter to June, at 112cpl, while Brisbane East had the most expensive prices. This week, the cheapest ULP in Brisbane was in Darra; however, prices are expected to rise each day from now on.
With a quarterly average of 108cpl, Adelaide drivers paid the least for fuel across the country. Adelaide West averaged 106cpl in the June quarter, while Adelaide Central and Hills averaged 109cpl. Adelaide Airport is where you’ll find the cheapest ULP right now. However, motorists should fill up today as it’s likely prices will rise.
In Western Australia, you’ll find the cheapest average ULP price in South East Perth. Mandurah had the most expensive ULP. Fill up at Perth Airport for the cheapest ULP in the city.
Canberra reported the most expensive quarterly average ULP prices in the country in the June quarter, at 122cpl, but this was still 21cpl less than in the March quarter. The cheapest suburb for ULP was in Amaroo. Motorists should fill their tanks as soon as they can, as prices have been rising slowly since 10 May, and will continue.
“The demand in fuel prices earlier this year was slow due to the effects of the pandemic, but since the end of April, retail and wholesale fuel prices have slowly recovered,” said Ms Koch.
“Wholesale prices are forecast to ease slightly next week but may soon rise again. While retailer prices overall have not yet risen to reflect increased import costs, they appear to be starting to increase once again. Therefore, we recommend motorists shop around for the lowest petrol prices in their area.”
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