Petrol prices will rise across Australia in the lead up to Christmas, but Sydney motorists are expected to save a bit at the bowser in the next couple of weeks.
NRMA spokesman Peter Khoury said even though global prices were on the rise, the price in Sydney would temporarily decline.
‘The oil industry is so volatile that we’re flat out determining what the prices will be in eight days’ time, let alone eight weeks’ time,’ he told reporters in Sydney on Monday.
Petrol prices are expected to rise across Australia in the lead up to Christmas, experts say (stock image)
‘We do know that prices will go down and that they will continue to go down over the next few days.’
Internationally prices are on the rise with the Organisation of the Petroleum Exporting Countries’ cartel cutting production levels over the past year.
The Brent Crude benchmark climbed to a two-year high on Sunday reaching $US62.07 ($81.10).
Mr Khoury said drivers in NSW shouldn’t worry about the rise leading into Christmas, just yet.
NRMA spokesmen Peter Khoury said prices in NSW varied from $1.18 per litre to $1.41 and urged customers to shop around (stock image)
‘If you are a family planning your Christmas holiday don’t fret yet, because there is a long way to go before now and Christmas and we just know that it such a volatile industry – anything can happen.’
He said prices in NSW varied from $1.18 per litre to $1.41 and urged customers to shop around.
Mr Khoury said it’s ‘too far out’ to be forecasting petrol prices for the holiday season.
‘Sydney is coming down in prices, falling slowly over the last 12 days,’ he said.
Analysis by The National Australia Bank forecasts higher petrol prices for 2018, with higher average pricing over the holiday period (stock image)
‘There is a likelihood that prices will rise in the next two to four weeks, but it’s still too early to be thinking about petrol prices around Christmas.’
Analysis by The National Australia Bank forecasts higher petrol prices for 2018, with higher average pricing over the holiday period.
‘The September quarter saw petrol average around $1.23 per litre [nationally], but we see petrol in the December quarter around 3.9 per cent higher at $1.28 per litre,’ NAB said, the Sydney Morning Herald reports.