Adelaide petrol prices spike back up despite fuel excise
Petrol prices have soared back to nearly $2/L ahead of the long weekend – despite the big cut in fuel excise.
SA News
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Petrol prices have soared back up to nearly $2/L in Adelaide ahead of the long weekend despite the federal government’s recent fuel excise relief package.
Prices were back up to 189.9c/L across most Adelaide outlets on Friday morning including at most On the Run, Caltex and Ampol stores.
Some United outlets, including at Queenstown, Blair Athol, and Adelaide Airport, were below 150c/L on Friday morning.
Up until Friday, motorists were seeing relief at the pump as prices were back down to around 145c/L across most outlets, thought to be due to a recent relief package in the federal budget.
As prices peaked to above 220c/L, Prime Minister Scott Morrison announced the fuel excise would be slashed in half from 44c/L to 22c/L for six months.
The 22c/L cut was activated in late March.
RAA fuel expert Mark Borlace said the terminal gate price of petrol was about 160c/L on Friday morning.
“Because of the removal of half the excise … if we didn’t have that we’d be back around the 215c/L if the full government charges were there,” Mr Borlace said.
He said the long weekend was not the only likely reason for the price spike.
“I’m not sure it’s just the long weekend … I think it’s more about the strategy of drawing people in on the high margin products, which are the goods and the fast foods and coffees, if they know people are out and about in the school holidays.”
Mr Borlace said price cycles were changing in Adelaide, and he would observe whether they would decrease in coming days, or remain high for a full two weeks.
He urged motorists to shop around and save money at the pump.
“The apps are the best way to protect yourself, and having about 40 cents in the margin, you save about $24 a tank so it’s still worth chasing,” he said.
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