Pain at the petrol bowser set to ease, experts say

You might have been forced to fork out as much as $1.77 a litre recently for petrol. Will the price sting continue over the festive season?

we’ve been forking out a lot for petrol lately but it won’t last, experts say.

Motorists hurting from huge petrol prices are in line for some relief over the Christmas holidays.

The cost of unleaded fuel in Melbourne surged to as much as $1.77 a litre in recent days.

But in better news, experts say prices are now beginning to slowly ease at many outlets, and should continue to drop daily as drivers hit the road for the holiday break.

“Petrol prices this Christmas are likely to fall, as most major cities including Melbourne have passed the top of their petrol cycles already,” comparethemarket.com.au spokesman Rod Attrill said.

“This is a huge relief for motorists filling up at the bowser this festive season.”

Melbourne petrol prices should slowly head down. Picture: iStock

Melbourne’s prices should bottom out within three weeks, he said, dropping by as much as 40c a litre over that time.

Drivers are urged to hold off and top up rather than fill up until then, and to use tools such as the comparison site’s Simples Fuel app to check for the lowest prices in their area.

Comparethemarket.com.au analysis found Melbourne’s overall average unleaded price hit $1.67 a litre last Friday, the highest level in two years.

“This time of year brings lots of additional expenses for households, and many will be conscious of keeping costs to a minimum, including travel costs,” Mr Attrill said.

“We recommend that motorists shop around and compare fuel prices in their local area and beyond.

“Motorists should hold off for as long as possible before filling up, as prices are expected to fall each day they wait.

“The gap between prices at the peak and at the bottom of the price cycle has been widening, meaning shopping around is more important than ever.”

Motorists are being advised to top up, rather than fill up, until prices bottom out.

From mid-September to mid-December, drivers paid an average $1.51 a litre. That was 8c a litre more than the previous three months.

The Maribyrnong area had the cheapest petrol over the quarter, at $1.47 a litre. Bayside motorists paid the most, at $1.59 a litre.

Yesterday, the RACV website recorded a high of 175.9c a litre for unleaded, and low of 134.9c.

@KarenCollierHS