Fill up NOW: Record surge in Australian petrol prices forces drivers to pay 26 cents a litre more in just one week – and there is no relief in sight
- Brisbane unleaded petrol prices have surged by 26.3 cents a litre in one week
- Sydney prices at the bowser climbed by 20.3 cents a litre over the same period
- CommSec said the weekly petrol price rises were a record high for Australia
Australian petrol prices have surged by a record level in just one week – with motorists in one major city paying 25 cents a litre more.
Unleaded prices have skyrocketed by unprecedented margins even though the benchmark price of crude oil was unchanged with the experts predicting there will be ‘few signs of relief’.
Brisbane motorists felt the most hip pocket pain, with prices surging by 26.3 cents to 165.6 cents a litre.
Australian petrol prices have surged by a record level in just one week – with motorists in one major city paying 25 cents a litre more. Unleaded prices have skyrocketed by unprecedented margins even though the benchmark price of crude oil was unchanged (stock image)
Sydney drivers were also punished with petrol prices rising by 20.3 cents to 154.4 cents a litre.
Melbourne was also unkind to motorists with prices increasing 17.3 cents a litre to 156.2 cents a litre.
CommSec chief economist Craig James said consumers would no doubt feel ripped off.
‘Motorists in Sydney and Brisbane probably reckon that they have never seen a bigger weekly change in the petrol price and they would be right,’ he said.
‘The big changes in pump prices would be unsettling for motorists.’
Brisbane motorists felt the most hip pocket pain, with prices surging by 26.3 cents to 165.6 cents a litre (pictured is the Story Bridge)
During the past week, Singapore’s benchmark Tapis price was unchanged at US$76.50 or $A112.70 a barrel.
A weaker Australian dollar, now trading at less than 68 US cents, has pushed up bowser prices.
While the petrol prices nationally rose by an average of 10.9 cents a litre during the past week to a four-week high of 153 cents a litre, unleaded wasn’t dearer in every capital city.
Adelaide motorists saw their fuel bill decline by 4.7 cents to 152.1 cents a litre, as prices in Darwin fell by 0.2 cents a litre to 143.1 cents a litre.
Perth prices rose by a more moderate two cents to 146.4 cents a litre.
Canberra prices rose by 0.2 cents to 147.8 cents a litre, while in Hobart they increased to 0.1 cents to 156.2 cents a litre.
With consumer sentiment already at weak levels, Mr James said motorists were right to be pessimistic ahead of the summer holidays.
‘Unfortunately there are few signs of relief at the pump,’ he said.
‘Filling up the car with petrol can cost the average motorist $80-90 – the single biggest weekly purchase for most households.’
Sydney drivers were also punished with petrol prices rising by 20.3 cents to 154.4 cents a litre (pictured is the Sydney Harbour Bridge and the Opera House)