Sydney motorists will get little relief throughout the October long weekend with petrol prices hovering around $1.60, according to analysis conducted through the My NRMA app.
Petrol prices in Sydney hit a high of 162.8 cents per litre (CPL) on Tuesday and are now falling slowly, with a current average price of 161.8 CPL. Motorists won’t see the bottom of the price cycle for three-to-four weeks.
With prices remaining high the NRMA is urging the community to access the cheapest price in their community through the My NRMA app, with the gap between service stations as high as 34 cents per litre across Sydney. NRMA members can also access discounts of up to five CPL at Ampol.
Global fuel prices are continuing to rise this week with the average Singapore price of unleaded petrol – the key petrol benchmark for Australia – at US$90.64. Prices jumped again this week after OPEC nations and Russia ruled out increasing supply.
According to the My NRMA app, the cheapest petrol in Sydney is currently 141.5 CPL at Speedway on the Horsley Drive, Smithfield, with about a dozen service stations across the city selling regular unleaded in the low 140s CPL mark.
NRMA spokesperson Peter Khoury said the 34 CPL gap between Sydney’s cheapest and most expensive service station mean a family with an average family sedan could save up to $20 on a tank of petrol if they shopped around.
“The price pain of 2018 sadly looks to continue and given we’re in the top part of the Sydney price cycle, we’re not going to see any significant reductions over the long weekend,” Mr Khoury said.
“There are bargains to be had in some regional towns and centres with competitive prices so we encourage our members to use the real-time data available through the My NRMA app before to find the cheapest towns on their route.”
“Families leaving Sydney for the October long weekend should look for bargains outside the metropolitan areas, while those staying in Sydney should shop around for the most competitive prices.
