Petrol prices: Australians hit by fuel price hikes causing major pain at the pump
A record gap between the cheapest and most expensive petrol stations has been revealed, with motorists in Australia’s largest cities hit with higher prices.
New research released by the NRMA on Thursday showed the nation’s three largest cities have been exposed to price cycles of four to seven weeks from 2018 to 2024.
The largest gap in Sydney between the cheapest and most expensive petrol stations came at the end of August, hitting 59.2 cents a litre.
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By continuing you agree to our Terms and Privacy Policy.Motorists heading to the bowser that day could have saved $29.60 for a tank had they been provided real-time data.
While Perth and Adelaide had cycles of between seven and 17 days.
Of the six price cycles in Sydney this year, the average price for unleaded at the high mark was 212.2 cents a litre.
Almost half of the city’s petrol stations charged the maximum price, also a record.
At the top of the June cycle, six in 10 servos were charging 229.9 cents a litre.
The lowest price on average during that cycle was 182.3 cents a litre, marking an almost 30 cents difference.
NRMA spokesperson Peter Khoury said the changing nature of price cycles across Australia’s largest cities was leaving drivers exposed to higher prices for longer.
“They are lasting longer, prices rise up to three times faster than they fall,” he said.
“With this latest research, we know that the majority of service stations in Sydney are charging the maximum price longer at the top of the cycle, there are no more outliers.”
