Petrol prices are set to rise in Brisbane and Melbourne as they hit the top of their fuel cycles ahead of Christmas, the National Roads and Motorists Association (NRMA) says, while Sydneysiders can expect a minor fall in prices.
Average prices in Melbourne are climbing, and are currently at 192 cents per litre, while Brisbane is nearing the high point of the cycle at 203.8 cents per litre, according to the NRMA.
Average prices in Adelaide are starting to rise at 168.9 cents per litre, with Perth prices peaking at 196 cents in line with its seven-day price cycle.
Canberra (average price 196.4) is stable while Hobart (184.8) and Darwin (175.5) are rising slowly.
Petrol prices move up and down in regular patterns, or price cycles, in Australia’s largest capital cities, although though not in Canberra, Hobart or Darwin.
The Australian Competition and Consumer Commission (ACCC) explains price cycles as: “Petrol prices steadily decreasing for a period followed by a sharper increase”.
NRMA spokesperson Peter Khoury said the unusually slow fall in prices is something the ACCC “should look at”.
“It’s pleasing the cycle is falling in Sydney; what’s less pleasing is that those falls are happening at a snail’s pace at two-thirds of a cent per day — the oil companies must fix this now,” he said.
“Brisbane and Melbourne have had less luck with the price cycles as their local prices will spike just as families are heading away.”
The wholesale price of petrol is currently around $1.66, meaning there’s “a lot of fat on these margins”, Khoury said.
“Cost of living pressures continue to hurt families who are in desperate need of a break, and unfortunately, geography will largely dictate how much they pay this Christmas.”
He said drivers may be able to find cheap fuel outside of capital cities, on the way to holiday destinations.