Why petrol prices have never been higher

It’s by no means been dearer to refill your automotive – however there’s a option to keep away from being fleeced on the bowser.

It’s by no means been dearer to refill your automotive, the NRMA says, as petrol costs attain historic highs resulting from an ideal storm of unlucky circumstances.

“Everything that could go wrong is going wrong,” NRMA spokesman Peter Khoury stated.

The Omicron impression, insurgent raids in opposition to Middle Eastern refineries, tensions between Russia and Ukraine, and a man-made downward stress on oil provide have all contributed to driving petrol costs to document ranges.

The common value of normal unleaded gasoline in Sydney topped $1.80 per litre final week, the second time in historical past the worth has been that top.

The first time the common Sydney litre value hit $1.80 was on December 6 final 12 months.

The present common within the metropolis was at 178.2 cents per litre and falling as of Tuesday afternoon.

Other capital cities have been hit by costly gasoline costs as properly.

The common value per litre in Melbourne was $1.635, in Adelaide $1.68, in Perth $1.56, and in Brisbane $1.897.

All these costs have been falling slowly.

Elsewhere, costs have been steady, with a mean price per litre of $1.709 in Canberra, $1.804 in Hobart and $1.717 in Darwin.

Mr Khoury stated it didn’t make any sense for motorists to carry off on shopping for petrol as a result of the costs have been falling too slowly.

“The more important message is, do your research before filling up,” he stated.

The NRMA cautioned costs might range fairly wildly and urged drivers to search for an excellent deal earlier than filling up.

In Sydney, 40 per cent of petrol stations bought petrol for greater than $1.80 per litre however some others bought it for lower than $1.65 per litre, the motorists’ organisation stated.

Mr Khoury stated the multinational oil cartel Organisation of the Petroleum Exporting Countries was releasing much less oil, pushing up costs.

He additionally stated Australian petrol stations have been reaping a big revenue margin, which contributed to elevating the price for shoppers.

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