Drivers encouraged to be strategic as petrol prices soar

Motorists have been advised to be strategic and shop around to find the best deals on petrol

The price of petrol continues to surge in Melbourne Picture: NCA NewsWire / David Crosling

Victorian motorists are being urged to shop around or wait to fill up their cars as the metropolitan petrol price cycle peaks.

RACV data shows Tuesday’s average fuel price in Melbourne was 209.4 cents per litre. The highest recorded was 215.9 cents per litre, while the lowest was 165.9 cents.

Australasian Convenience and Petroleum Marketers Association CEO Mark McKenzie said petrol prices across Melbourne should start falling in coming days.

Motorists are advised to go beyond their local servo to find the best deals on petrol. Picture: David Crosling

“We’ve basically reached the top of the cycle and now prices should start to be coming down,” he said.

“We’ve seen prices climbing for the past 18 days – including a relatively big jump over the past four days.

“I would be surprised if prices went up much further than they have already.”

Mr McKenzie said advised motorists to shop around to find the best deal when next filling up.

“There are still some big differences in price but what we are seeing is that there are a lot less places selling (regular unleaded) for around 170 cents (per litre),” he said.

“If you can wait to fill up that will also be beneficial as the price cycle generally falls around 1.5 cents to 1.8 cents per day.

“I’d be expecting to see prices fall and keep falling now we are into the summer break.”

Mr McKenzie said regional areas were offering better value than most metropolitan service stations.

“The regions haven’t moved much in terms of price and many places are still selling (regular unleaded) for between 170 cents and 180 cents per litre,” he said.

“If you are able to fill up before driving back to Melbourne you are likely to save a bit of money.”

RACV Head of Corporate Communications Eleanor Colonico encouraged motorists to download RACV’s arevo journey planning app to get the best fuel deals.

“Arevo sorts by distance, lowest price or preferred brand with an interactive map that updates every 15 minutes,” she said.

“The Fuel Tracker continues to be available on the RACV website.”

Ms Colonico said there were a number of reasons petrol prices were so variable.

“Fuel prices depend on a range of factors, including geographical area, availability, international benchmark prices, taxes, the value of the Australian dollar relative to the US dollar and levels of competition in different areas,” she said.