Wednesday 7 June 2023: The NRMA is warning motorists in Sydney that unleaded prices have spiked just before the June long weekend, as the organisation releases new research highlighting the impact of the record high prices of the last 12 months on businesses.
The average for regular unleaded in Sydney has jumped over 30 cents per litre over the last fortnight and has peaked at almost $2 per litre. The average for regular unleaded is now 197.6 cents per litre and the Terminal Gate Price is 169.6 cents per litre.
The average for diesel in Sydney is currently 181.5 cents per litre and has fallen almost 30 cents per litre since the start of the year. The Terminal Gate Price for diesel is 166.9 cents per litre.
According to the myNRMA app the gap between the cheapest and most expensive service stations in Sydney for regular unleaded is 44 cents per litre and over 34 cents per litre for diesel.
Families going away for the June long weekend and school holidays are encouraged to use the My NRMA app to find the cheapest fuel in Sydney or to fill up outside Sydney, with prices in many regional areas cheaper than the capital.
The NRMA has today released new research into the economic impact of record high fuel costs over the last year on fleet running businesses. The survey of 448 NRMA Business Members found an alarming 92 per cent had been impacted negatively by the record high prices of the last year.
NRMA Business provides specialised roadside assistance Australia wide, corporate driver training, fleet support and an advocacy voice to almost 26,000 fleet-running businesses.
The NRMA Business survey found that almost half (49%) of businesses surveyed saw their weekly fuel bill increase between $100 and $500 and 13 per cent saw it increase between $500 and $1,000.
The research also found:
- 41% had no choice but to wear the increase in cost to their business
- 36% would pass the cost on to their customers
- 20% were making provisions to drive less and schedule online appointments
- 19% would cut costs in other areas to offset the cost of fuel
NRMA spokesperson Peter Khoury said the inflationary impact of record high fuel prices over the last 12 months on both families and businesses was now well known and called on oil companies to drop prices in line with the price cycle.
“Every household has borne the brunt of the high fuel costs over the last year and as evidenced by this latest survey of NRMA Business Members - small businesses that are the backbone of our economy – have also been hit hard,” Mr Khoury said.
“Cost of living pressures are challenge number one in Australia today and we don’t want Australians being unnecessarily over-charged for fuel, which is why we want oil companies to begin dropping their prices after having hit the high point of the cycle just before the long weekend.”
NRMA Business Member Banarang Aboriginal Corporation (AC) is one of Sydney’s largest Indigenous Traffic Control companies with a fleet of 32 vehicles providing traffic control at some of Sydney’s largest construction sites, including the Western Sydney airport.
Banarang AC Operations Manager Heath Spratt said record petrol prices over the last 12 months had forced operating costs on the business to jump significantly, with Banarang AC left with little choice but to absorb the increased costs.
“Banarang AC is faced with the same challenges as every business and household in Australia - rising fuel costs, rent increases, rising interest rates and inflationary pressures on our supply chain has had a big impact,” Mr Spratt said.
“As a business we have made the decision to absorb these costs rather than pass them on to our customers who are dealing with the same challenges. To do this we have cut costs in areas that we could like research and capital expenditure on equipment.
“Our maintenance crews, fieldworkers and traffic controllers have done a great job of getting the most out of our equipment and ensuring we take steps to reduce fuel consumption by maintaining the engine performance of our fleet and ensuring tyre pressure on all our vehicles are optimised to reduce unnecessary fuel consumption.
“We have teams looking at travel times and ensuring our fleet is using the most efficient routes so that we are not spending unnecessary time in traffic and we have set up a reward program for staff to encourage economic driving.”
Current average prices for regular unleaded across Australia’s capital cities are:
- Adelaide 178.2 cents per litre (cpl) and rising
- Brisbane 203.6 cpl and peaking
- Canberra 188.3 cpl and stable
- Darwin 181.5 cpl and stable
- Hobart 183.7 cpl and stable
- Melbourne 202.2 and falling
- Perth 166.6 and rising
- Sydney 197.6 and falling
