Weekly Fuel report - 11th of May 2020
Summary 11 May 2020
Average regular unleaded prices in Sydney should range between 116 cents per litre (at the high point of the new cycle) and 95 cents per litre (at the low point of the new cycle).
Average regular unleaded prices rose 0.2 cents per litre while diesel prices fell 0.9 cents per litre this past week.
Global Factors – Last 7 days
Tapis and Mogas 95 prices rebounded 25 per cent this past week’s lows.
Weekly average Tapis (Asian crude) price rose 5.3 cents per litre (cpl) in $A.
The weekly average Singapore price of unleaded petrol, Mogas 95, which is the key petrol benchmark for Australia rose from $US 21.21 to $US 26.66 a barrel this past week, equal to a rise of 6.2 cpl in $A.
Global prices have rallied over the past week due to the following factors :
• OPEC and its allies agreeing to cut production quotas from May 1.
• Several countries lifting virus restrictions.
• Reduction in Chinese crude oil stockpiles.
• Rising US gasoline consumption.
• Potential uplift in European energy consumption.
Sydney Metropolitan Area
Sydney unleaded petrol average prices ( E10, Regular, Premium 95 and Premium 98 grades of fuel ) have risen 19.9 cpl this past week.
Average regular unleaded prices are expected to peak at 116 cpl this week and fall tp 95 cpl in the next 3-4 weeks.
Current average wholesale price for regular unleaded in Sydney is 93.5 cpl, up 6.0 cpl on last week.
Today is Day 53 of the newt cycle. The last cycle was 34 days in duration, 3 days longer than the previous cycle.
Current average prices are as follows E10 – 112.2 cpl, Regular – 113.7 cpl, Premium 95 – 130.4 cpl and Premium 98 – 135.7 cpl.
Sydney’s average diesel price is 116.1 cpl, down 0.5 cpl this past week.
Average Sydney LPG price is 77.8 cpl, down 0.7 cpl this past week.
Central Coast, Newcastle and Wollongong
Last week average regular unleaded prices have risen 16.4 cpl in Newcastle, 17.1 cpl in Wollongong and 20.3 cpl for the Central Coast.
Regional NSW
Over the past week average regular unleaded prices rose 0.2 cpl while diesel prices fell 0.9 cpl.
In the past week - most notable price movements in regional towns occurred as follows:
1. Regular Unleaded prices – rises, Nowra 6.3 cpl, Glen Innes 7.0 cpl, Bathurst 8.5 cpl and Maitland 28.5 cpl..
2. Regular Unleaded prices – falls, Forbes 3.5 cpl, Moree 4.4 cpl and Ballina 4.7 cpl.
3. Diesel prices – rises, nil.
4. Diesel prices – falls, Moree 2.6 cpl, Deniliquin 2.9 cpl and Moama 3.6 cpl.
Tapis and Mogas 95 prices rebounded 25 per cent this past week’s lows.
Weekly average Tapis (Asian crude) price rose 5.3 cents per litre (cpl) in $A.
The weekly average Singapore price of unleaded petrol, Mogas 95, which is the key petrol benchmark for Australia rose from $US 21.21 to $US 26.66 a barrel this past week, equal to a rise of 6.2 cpl in $A.
Global prices have rallied over the past week due to the following factors :
• OPEC and its allies agreeing to cut production quotas from May 1.
• Several countries lifting virus restrictions.
• Reduction in Chinese crude oil stockpiles.
• Rising US gasoline consumption.
• Potential uplift in European energy consumption.
Sydney Metropolitan Area
Sydney unleaded petrol average prices ( E10, Regular, Premium 95 and Premium 98 grades of fuel ) have risen 19.9 cpl this past week.
Average regular unleaded prices are expected to peak at 116 cpl this week and fall tp 95 cpl in the next 3-4 weeks.
Current average wholesale price for regular unleaded in Sydney is 93.5 cpl, up 6.0 cpl on last week.
Today is Day 53 of the newt cycle. The last cycle was 34 days in duration, 3 days longer than the previous cycle.
Current average prices are as follows E10 – 112.2 cpl, Regular – 113.7 cpl, Premium 95 – 130.4 cpl and Premium 98 – 135.7 cpl.
Sydney’s average diesel price is 116.1 cpl, down 0.5 cpl this past week.
Average Sydney LPG price is 77.8 cpl, down 0.7 cpl this past week.
Central Coast, Newcastle and Wollongong
Last week average regular unleaded prices have risen 16.4 cpl in Newcastle, 17.1 cpl in Wollongong and 20.3 cpl for the Central Coast.
Regional NSW
Over the past week average regular unleaded prices rose 0.2 cpl while diesel prices fell 0.9 cpl.
In the past week - most notable price movements in regional towns occurred as follows:
1. Regular Unleaded prices – rises, Nowra 6.3 cpl, Glen Innes 7.0 cpl, Bathurst 8.5 cpl and Maitland 28.5 cpl..
2. Regular Unleaded prices – falls, Forbes 3.5 cpl, Moree 4.4 cpl and Ballina 4.7 cpl.
3. Diesel prices – rises, nil.
4. Diesel prices – falls, Moree 2.6 cpl, Deniliquin 2.9 cpl and Moama 3.6 cpl.
World Crude Oil Prices
Over the previous week:
• The average crude oil price rose 5.3 cents per litre; and
• Sydney’s Terminal Gate Price for regular unleaded rose 6.0 cents per litre to 93.5 cents per litre.
Sydney Prices
Sydney’s last price cycle lasted 34 days, 3 days shorter than previous cycle. Today is day 53 of the current price cycle, with the average price for regular unleaded fuel in Sydney at 113.7 cents per litre (Monday morning).
The most expensive point of the current cycle was Friday 20 March at 142.3 cents per litre for regular unleaded petrol. The highest prices for E10, Premium 95 and Premium 98 were 141.4, 161.1 and 164.7 cents per litre respectively.
Looking Ahead
Over the past week, the average Mogas price rose 6.2 cents per litre with the Australian dollar rising 0.7 cents to 65.3 cents against the US dollar. Average regular unleaded prices have risen 19.7 cents per litre this past week, and will peak at 116 cents per litre this week, and then fall to 95 cents per litre in the next 3-4 weeks.
Average regular unleaded prices in Sydney should range between 116 cents per litre (at the high point of the new cycle) and 95 cents per litre (at the low point of the new cycle).
The average price ranges for E10, Premium 95 and Premium 98 should be as follows:
E10 – a high point of 114 cents per litre and a low point of 93 cents per litre.
Premium 95 – a high point of 132 cents per litre and a low point of 111 cents per litre.
Premium 98 – a high point of 137 cents per litre and a low point of 116 cents per litre.
Sydney’s current average diesel price is 116.1 cents per litre – down 0.5 cents per litre this past week.
The current average LPG price in Sydney is 77.8 cents per litre – down 0.7 cents per litre this past week.
*Forecast estimates only, we recommend using the fuel search in the my nrma app to compare fuel prices in real-time.
NRMA produces a weekly fuel report to help Members be better informed on petrol prices and the fuel cycle to help with savings at the bowser. The NRMA Member exclusive my nrma app also has fuel finder functionality comparing the price of fuel in the NSW searched area.
