Weekly Fuel report - 9th of June 2020
Summary 9 June 2020
Average regular unleaded prices in Sydney should range between 129 cents per litre (at the high point of the next cycle) and 103 cents per litre (at the low point of the next cycle).
Average regular unleaded prices rose 0.2 cent per litre while diesel prices fell 0.1 cents per litre this past week.
Global Factors – Last 7 days
Weekly average Tapis (Asian crude) price rose 3.5 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 36.54 to $US 42.17 a barrel this past week, equal to a rise of 3.6 cpl in $A.
Global prices continued to trend upwards over the past week due to the following factors :
• Increasing investor optimism as major world economies come out of lockdown leading to stronger fuel demand.
• Saudi Arabia and Russia reached a preliminary deal to extend output curbs for an extra month.
• A lift in US job data – also increased optimism that US oil demand will rise.
Sydney Metropolitan Area
Sydney unleaded petrol average prices ( E10, Regular, Premium 95 and Premium 98 grades of fuel ) have risen 11.0 cpl this past week.
Average regular unleaded prices are now expected to peak at 129 cpl over the coming week.
Current average wholesale price for regular unleaded in Sydney is 101.1 cpl, up 4.5 cpl on last week.
Today is Day 29 of the current cycle. The last cycle was 53 days in duration, 19 days longer than the previous cycle.
Current average prices are as follows E10 – 116.7 cpl, Regular – 117.0 cpl, Premium 95 – 135.9 cpl and Premium 98 – 139.9 cpl.
Sydney’s average diesel price is 115.2 cpl, down 0.1 cpl this past week.
Average Sydney LPG price is 77.0 cpl, down 0.2 cpl this past week.
Central Coast, Newcastle and Wollongong
Last week average regular unleaded prices have fallen 0.6 cpl in Newcastle, 1.4 cpl for the Central Coast region and 2.1 cpl in Wollongong.
Regional NSW
Over the past week average regular unleaded prices rose 0.3 cpl while diesel prices fell 0.1 cpl.
In the past week - most notable price movements in regional towns occurred as follows:
1. Regular Unleaded prices – rises, Yass 2.1 cpl.
2. Regular Unleaded prices – falls, nil.
3. Diesel prices – rises, nil.
4. Diesel prices – falls Wauchope 4.2 cpl and Yass 4.8 cpl.
Weekly average Tapis (Asian crude) price rose 3.5 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 36.54 to $US 42.17 a barrel this past week, equal to a rise of 3.6 cpl in $A.
Global prices continued to trend upwards over the past week due to the following factors :
• Increasing investor optimism as major world economies come out of lockdown leading to stronger fuel demand.
• Saudi Arabia and Russia reached a preliminary deal to extend output curbs for an extra month.
• A lift in US job data – also increased optimism that US oil demand will rise.
Sydney Metropolitan Area
Sydney unleaded petrol average prices ( E10, Regular, Premium 95 and Premium 98 grades of fuel ) have risen 11.0 cpl this past week.
Average regular unleaded prices are now expected to peak at 129 cpl over the coming week.
Current average wholesale price for regular unleaded in Sydney is 101.1 cpl, up 4.5 cpl on last week.
Today is Day 29 of the current cycle. The last cycle was 53 days in duration, 19 days longer than the previous cycle.
Current average prices are as follows E10 – 116.7 cpl, Regular – 117.0 cpl, Premium 95 – 135.9 cpl and Premium 98 – 139.9 cpl.
Sydney’s average diesel price is 115.2 cpl, down 0.1 cpl this past week.
Average Sydney LPG price is 77.0 cpl, down 0.2 cpl this past week.
Central Coast, Newcastle and Wollongong
Last week average regular unleaded prices have fallen 0.6 cpl in Newcastle, 1.4 cpl for the Central Coast region and 2.1 cpl in Wollongong.
Regional NSW
Over the past week average regular unleaded prices rose 0.3 cpl while diesel prices fell 0.1 cpl.
In the past week - most notable price movements in regional towns occurred as follows:
1. Regular Unleaded prices – rises, Yass 2.1 cpl.
2. Regular Unleaded prices – falls, nil.
3. Diesel prices – rises, nil.
4. Diesel prices – falls Wauchope 4.2 cpl and Yass 4.8 cpl.
World Crude Oil Prices
Over the previous week:
• The average crude oil price rose 3.5 cents per litre; and
• Sydney’s Terminal Gate Price for regular unleaded rose 4.5 cents per litre to 101.1 cents per litre.
Sydney Prices
Sydney’s last price cycle lasted 53 days, 19 days longer than previous cycle. Today is day 29 of the current price cycle, with the average price for regular unleaded fuel in Sydney at 117.0 cents per litre (Tuesday morning).
The most expensive point of the current cycle is today Tuesday 9 June at 117.0 cents per litre for regular unleaded petrol. The highest prices for E10, Premium 95 and Premium 98 were 116.7, 135.9 and 139.9 cents per litre respectively.
Looking Ahead
Over the past week, the average Mogas price rose 3.6 cents per litre with the Australian dollar rising 3.4 cents to 70.0 cents against the US dollar. Average regular unleaded prices have risen 8.1 cents per litre this past week, and are now expected to rise to 129 cents per litre over the coming week.
Average regular unleaded prices in Sydney should range between 129 cents per litre (at the high point of the next cycle) and 103 cents per litre (at the low point of the next 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 101 cents per litre.
Premium 95 – a high point of 145 cents per litre and a low point of 119 cents per litre.
Premium 98 – a high point of 151 cents per litre and a low point of 125 cents per litre.
Sydney’s current average diesel price is 115.2 cents per litre – down 0.1 cents per litre this past week.
The current average LPG price in Sydney is 77.0 cents per litre – down 0.2 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.
