Motorists gouged 30c a litre as Australian petrol prices soar

As petrol prices surge across Australia, NRMA fuel experts have revealed just how much motorists are being gouged per litre.

NRMA fuel experts have revealed the “absurd” mark-up gouging motorists across Australia, as petrol prices soar towards their highest levels in a decade.

Average prices for regular unleaded petrol reached 164.7 per litre during the past week in Sydney with prices at some greedy major service stations as high as 175.9 cents per litre.

The average price of a litre of petrol this week is 165.7 cents in Perth, 159.6 cents in Melbourne, 146.9 cents in Darwin, 149.9 cents in Hobart, 136.4 cents in Adelaide and 150.6 cents in Canberra.

Queensland motorists have been hit the hardest, with the RACQ Monthly Fuel Report for June showing Brisbane was the most expensive capital city to buy fuel in the country last month.

NRMA fuel spokesman Peter Khoury said the Organisation of the Petroleum Exporting Countries (OPEC) was withholding fuel supply and thus artificially inflating global oil prices.

He said it was time for fuel companies to stand up and be counted.

“Unfortunately, because of OPEC holding back on production levels, despite demand for oil increasing globally, we are now being exposed to particularly high prices,” he said.

“If we continue to see artificial cuts in oil and production levels withheld, based on these current trends we could see those prices continue to increase.

“We‘ve had the highest on record in Brisbane, one of the highest we’ve seen over the last two years in Sydney, and certainly Melbourne, Adelaide and Perth as well.

“Unfortunately, the people who are (driving) around are the ones who are keeping us healthy, and keeping us fed, essential workers and families going out to get groceries … they are now paying excessive prices.”

Average petrol prices in Sydney could climb to $1.70 a litre by October. Picture: Christian Gilles / NCA NewsWire

NRMA spokesman Peter Khoury urged motorists to use the NRMA app to locate their cheapest fuel nearby. Picture: James Gourley / NCA NewsWire

Australia‘s international benchmark price, Singapore Mogas, has continued to rise to almost $US90 a barrel.

Mr Khoury said if prices continued to increase, the average Sydney regular unleaded fuel price could jump to 170 cents per litre by October, which would be the highest average fuel price since before the start of the global financial crisis in 2008.

“The wholesale price in Sydney is around $1.37 a litre,” he said.

“About a quarter of the service stations in Sydney are above $1.70 for regular unleaded.

“That gap between the wholesale and the retail price is absurd.”

Mr Khoury urged motorists to use the NRMA app to locate cheap fuel nearby or do their research before filling up.