Weekly Fuel report - 22nd of June 2020
Summary 22 June 2020
Average regular unleaded prices in Sydney should range between 128 cents per litre (at the high point of the
current cycle) and 106 cents per litre (at the low point of this cycle).
Average regular unleaded prices prices rose 1.1 cent per litre while diesel prices rose 0.2 cents per litre this past week.
Global Factors – Last 7 days
Weekly average Tapis (Asian crude) price rose 1.2 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 45.07 to $US 46.98 a barrel this past week, equal to a rise of 2.2 cpl in $A.
Global prices continued their upward trend this past week. The following factors are impacting on global prices.
1. Continued growing optimism about a lift of global fuel demand. Current consumption of 90 million barrels is forecast to rise to 96 million barrels in the second half of 2020.
2. Energy minister from the United Arab Emirates expressed confidence that OPEC+ nations would meet supply commitments.
3. However there is still some nervousness amongst investors that a second wave of the COVID 19 virus may supress fuel demand.
Sydney Metropolitan Area
Sydney unleaded petrol average prices ( E10, Regular, Premium 95 and Premium 98 grades of fuel ) have fallen 5.4 cpl this past week.
Average regular unleaded prices have been slowly falling this past week and are now expected to fall to 106 cpl over the next 1-2 weeks.
Current average wholesale price for regular unleaded in Sydney is 104.2 cpl, up 1.2 cpl on last week.
Today is Day 10 of the current cycle. The last cycle was 32 days in duration, 21 days shorter than the previous cycle.
Current average prices are as follows E10 – 121.1 cpl, Regular – 122.6 cpl, Premium 95 – 138.1 cpl and Premium 98 – 143.9 cpl.
Sydney’s average diesel price is 116.3 cpl, up 0.3 cpl this past week.
Average Sydney LPG price is 76.9 cpl, down 0.1 cpl this past week.
Central Coast, Newcastle and Wollongong
Last week average regular unleaded prices have fallen 1.4 cpl for the Central Coast region and risen 4.1 cpl in Newcastle and 10.3 cpl in Wollongong.
Regional NSW
Over the past week average regular unleaded prices rose 1.1 cpl while diesel prices rose 0.2 cpl.
Average regional prices are expected to increase in most regional towns as both unleaded and diesel wholesale prices continue to increase. Regular unleaded prices have risen 23 cpl since mid-April while diesel prices have risen 13 cpl since late April..
In the past week - most notable price movements in regional towns occurred as follows:
1. Regular Unleaded prices – rises, Dubbo 4.0 cpl, Moss vale 4.5 cpl, Bathurst 7.4 cpl and Orange 12.9 cpl.
2. Regular Unleaded prices – falls, Muswellbrook 10.4 cpl.
3. Diesel prices – rises, nil.
4. Diesel prices – falls, nil.
current cycle) and 106 cents per litre (at the low point of this cycle).
Weekly average Tapis (Asian crude) price rose 1.2 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 45.07 to $US 46.98 a barrel this past week, equal to a rise of 2.2 cpl in $A.
Global prices continued their upward trend this past week. The following factors are impacting on global prices.
1. Continued growing optimism about a lift of global fuel demand. Current consumption of 90 million barrels is forecast to rise to 96 million barrels in the second half of 2020.
2. Energy minister from the United Arab Emirates expressed confidence that OPEC+ nations would meet supply commitments.
3. However there is still some nervousness amongst investors that a second wave of the COVID 19 virus may supress fuel demand.
Sydney Metropolitan Area
Sydney unleaded petrol average prices ( E10, Regular, Premium 95 and Premium 98 grades of fuel ) have fallen 5.4 cpl this past week.
Average regular unleaded prices have been slowly falling this past week and are now expected to fall to 106 cpl over the next 1-2 weeks.
Current average wholesale price for regular unleaded in Sydney is 104.2 cpl, up 1.2 cpl on last week.
Today is Day 10 of the current cycle. The last cycle was 32 days in duration, 21 days shorter than the previous cycle.
Current average prices are as follows E10 – 121.1 cpl, Regular – 122.6 cpl, Premium 95 – 138.1 cpl and Premium 98 – 143.9 cpl.
Sydney’s average diesel price is 116.3 cpl, up 0.3 cpl this past week.
Average Sydney LPG price is 76.9 cpl, down 0.1 cpl this past week.
Central Coast, Newcastle and Wollongong
Last week average regular unleaded prices have fallen 1.4 cpl for the Central Coast region and risen 4.1 cpl in Newcastle and 10.3 cpl in Wollongong.
Regional NSW
Over the past week average regular unleaded prices rose 1.1 cpl while diesel prices rose 0.2 cpl.
Average regional prices are expected to increase in most regional towns as both unleaded and diesel wholesale prices continue to increase. Regular unleaded prices have risen 23 cpl since mid-April while diesel prices have risen 13 cpl since late April..
In the past week - most notable price movements in regional towns occurred as follows:
1. Regular Unleaded prices – rises, Dubbo 4.0 cpl, Moss vale 4.5 cpl, Bathurst 7.4 cpl and Orange 12.9 cpl.
2. Regular Unleaded prices – falls, Muswellbrook 10.4 cpl.
3. Diesel prices – rises, nil.
4. Diesel prices – falls, nil.
World Crude Oil Prices
Over the previous week:
• The average crude oil price rose 1.2 cents per litre; and
• Sydney’s Terminal Gate Price for regular unleaded rose 1.2 cents per litre to 104.2 cents per litre.
Sydney Prices
Sydney’s last price cycle lasted 32 days, 21 days shorter than previous cycle. Today is day 10 of the current price cycle, with the average price for regular unleaded fuel in Sydney at 122.6 cents per litre (Monday morning).
The most expensive point of the current cycle was Saturday 13 June at 127.8 cents per litre for regular unleaded petrol. The highest prices for E10, Premium 95 and Premium 98 were 126.6, 144.5 and 149.6 cents per litre respectively.
Looking Ahead
Over the past week, the average Mogas price rose 2.2 cents per litre with the Australian dollar rising 0.3 cents to 68.6 cents against the US dollar. Average regular unleaded prices have fallen 4.8 cents per litre this past week, and are now expected to fall to 106 cents per litre over the next 1-2 weeks.
Average regular unleaded prices in Sydney should range between 128 cents per litre (at the high point of the current cycle) and 106 cents per litre (at the low point of this cycle).
The average price ranges for E10, Premium 95 and Premium 98 should be as follows:
E10 – a high point of 127 cents per litre and a low point of 105 cents per litre.
Premium 95 – a high point of 144 cents per litre and a low point of 122 cents per litre.
Premium 98 – a high point of 150 cents per litre and a low point of 128 cents per litre.
Sydney’s current average diesel price is 116.3 cents per litre – up 0.3 cents per litre this past week.
The current average LPG price in Sydney is 76.9 cents per litre – down 0.1 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.
