Fuel Prices Rising While Retailers Give Lower Payments: “Kick in the teeth”

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Because more price increases are anticipated, drivers are recommended to fill up their tanks.

Rising fuel prices in Australia have been characterised as a “smack in the face to drivers” when oil prices decline.

Drivers are urged to refuel before Christmas because prices are expected to rise more in the months ahead.

According to recent statistics from Compare the Market, gas prices are rising in Sydney, Melbourne, and Brisbane but decreasing in Adelaide and Perth. 

Sydney now has a 55 cent difference between the lowest price ($1.53/litre) and highest price ($2.08/litre).

Due to the fact that more than 100 stations in Greater Sydney have already increased their prices to above $2.05 per litre, there is less of a chance for drivers to find lower prices there.

More than 100 stations in Greater Melbourne have already increased prices to $2 per litre or more, with a 45-cent difference currently existing between Melbourne’s cheapest price ($1.55/litre) and most expensive ($2.00/litre).

Unleaded 91 presently costs 41 cents less per litre in South-East Queensland, which translates to a possible $21 savings at the pump when filling up a 50-litre tank.

The current national average price for a litre of gasoline is $1.77. Sydney ($1.77/litre) is currently the most expensive city, followed by Brisbane ($1.73/litre), Melbourne ($1.72/litre), Adelaide ($1.66/litre), and Perth ($1.61/litre).

According to Compare the Market, gas stations keeping their prices low are now driving down averages.

Currently, the wholesale price of gasoline is $1.60 per litre (retailers purchase fuel at this price before passing it along to customers). A month ago, the national average price per litre was $1.75.

Before Christmas and the New Year, motorists have a brief window of opportunity to lock in lower gas costs, claims Chris Ford of Compare the Market.

“Oil prices have dropped close to 20 per cent in the last month, and the national wholesale average is the lowest it has been since the fuel excise was fully restored in late September,” he said.

“Fuel comparison apps are one of the easiest ways to track down lower prices quickly,” Ford said. “Plenty of deals and discounts are also available through major supermarkets, roadside assistance programs and rewards schemes.”

“As we head into the festive season, try to keep as much money in your pockets as possible.”

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