Australian fuel prices: Diesel prices fall, petrol stays stubborn

Diesel prices fell through the start of this year, but the cost of unleaded stays stubborn with high global conflict.

Consumers can chalk up a win at the bowser, with diesel prices falling 12 cents per litre across the country in the March quarter.

But the latest data from the ACCC shows unleaded petrol prices generally only fell a couple of cents per litre from recent highs, as retailers make do with smaller margins.

Conflict in the Middle East, a rise in attacks on energy facilities in Russia and Ukraine and threats to shipping lanes in the Red Sea continue to keep crude oil prices high.

While there was relief on the diesel front, unleaded costs remain a pain point for consumers. Picture: NewsWire / Dylan Coker

While cheaper diesel costs could have some knock-on effects for shipping and freight costs, consumers driving petrol cars will be feeling the effects of an unleaded price spike in April.

In late April U91 peaked at record nominal highs between $2.15 and $2.17 per litre. The record high is nominal because prices were steeper, when adjusted for inflation, in 2008.

ACCC Commissioner Anna Brakey said consumers needed to shop around.

The national single-day average price for Unleaded 91 hit a record $2.17 on April 26. Picture: NewsWire / Nicki Connolly

“We encourage motorists in the five largest cities to refer to our price charts on the ACCC website to keep up to date with petrol price cycle movements and opportunities they present to fill up at lower prices,” Ms Brakey said.

“Motorists around the country can make use of the many fuel price apps and websites to find lower-priced retailers in their area.”

As a whole, petrol prices did fall 7.8c in Darwin, 4.1c in Perth and 3.6c in Adelaide, for the March quarter. The other capital cities fluctuated up or down less than 1.5 cents per litre.

“Daily average retail petrol prices increased across the five major cities in April following increases in international refined petrol prices and as petrol price cycles in several cities moved towards the highest point of the cycles,” Ms Brakey said.

It is better news for diesel drivers, with prices coming down between 13.9c and 10.2c in all the capitals.

Originally published as Australian fuel prices: Diesel prices fall, petrol stays stubborn