Last week saw another significant increase in petrol and diesel spot prices in Singapore, which will more than likely cause TGP prices to surge over the next few days. Peak prices around the 229.9cpl mark are predicted due to this added pressure on the next petrol price cycles – with Perth expected to be the hardest hit capital.
Brisbane
Current ULP average: 202.2cpl
Price range over the last week: 177.9cpl – 225.9cpl
Despite average fuel prices falling by over 7cpl over the past week, Brisbane is most likely another week from reaching the low point of it’s current petrol price cycle.
Sydney
Current ULP average: 203.4cpl
Price range over the last week: 176.9cpl – 229.9cpl
Retailers across Sydney continued to increase prices this week, causing the average cost of fuel to move ever so slowly. Motorists will need to wait around 2 weeks to see lower petrol prices, when the bottom of the current cycle is due.
Melbourne
Current ULP average: 194.7cpl
Price range over the last week: 178.9cpl -217.9cpl
Melbourne is still ahead of Brisbane and Sydney in the discounting stage of its price cycle, but another new price cycle may commence within the next 7 days if wholesale fuel prices jump up again.
Adelaide
Current ULP average: 188.0cpl
Price range over the last week: 177.9cpl – 222.6cpl
Fuel prices plummeted by almost 20cpl in Adelaide this week, a clear indicator that they are well within the discounting phase of their current price cycle. However, what goes down must come up – drivers can expect to see petrol prices surge again within the next week or so.
Perth
Current ULP average: 189.0cpl
Price range over the last week: 179.9cpl – 213.0cpl
Perth retailers are expected to post a new peak fuel price today, which is forecasted to hit the mid to high 220’s.
Darwin (no price cycle)
Current ULP average: 198.2cpl
Price range over the last week: 131.9cpl – 199.9cpl
Not much movement in terms of fuel prices in Darwin this week.
Hobart (no price cycle)
Current ULP average: 200.8cpl
Price range over the last week: 168.9cpl – 211.1cpl
Similar to Darwin, only very little movement in fuel prices this week.
Retail diesel prices
Current Diesel averages:
ACT – 208.9cpl
Adelaide – 201.6cpl
Brisbane – 209.1cpl
Darwin – 208.9cpl
Hobart – 218.1cpl
Melbourne – 207.4cpl
Perth – 204.1cpl
Sydney – 206.0pl
No significant changes this week aside from in Adelaide, where diesel prices dropped by around 6cpl.
Wholesale trends
Wholesale petrol prices dropped this week, with average TGP prices decreasing by 1.8cpl.
Wholesale diesel prices decreased again this week, with average TGP prices going down by 4.1cpl.
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Information is based on average price trends up to 10 am AEDT on 30 May 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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