Sydney fuel prices turn just before hitting 11 year high

Relief at the bowser has come earlier than expected for Sydney motorists ahead of the October long weekend following consumer pressure on retailers to keep prices honest.

The average Sydney price for unleaded fuel hit 163.1 cents a litre on Wednesday, just three cents short of an 11 year high of 166 cents, which was exceeded in Brisbane (168.9) and reached in Adelaide (166.8).

Following extensive pressure on retailers and calls from the NRMA for motorists to avoid filling up throughout the day, average prices in Sydney stopped increasing in the afternoon and have since dropped three cents a litre to 161 cents a litre.

NRMA spokesman Peter Khoury said the price drop was welcome relief for motorists.

“This overnight change demonstrates the effectiveness of a city-wide move by motorists to avoid filling up at service stations selling fuel for upwards of 173 cents a litre, when they knew it was well above the wholesale price,” Mr Khoury said.

“We weren’t expecting these price drops until after the long weekend. We’re pleased the retailers have responded so far to pressure and urge them to continue to pass these savings on to motorists.”

The wholesale price sits at 134.6 cents today, which means there are bargains to be had across Sydney for motorists who seek those lower prices by using the my nrma app to search real-time data.

Contact: Bridget Ahern 0423 505 854