Now’s a good time to fill up your car with petrol prices set to rise sharply by the end of the week.

Prices in Sydney are expected to jump to almost $1.50 a litre as the petrol cycle hits its peak, according to the NRMA.

“We’re bracing ourselves for the high 140s which is basically where all the other capital cities are,” spokesman Peter Khoury said.

Prices are expected to rise to the high 140s by Friday, according to the NRMA.

The average unleaded petrol price across Sydney today was around 135c, with the jump expected to be about 15c ahead of the weekend.

But if you can refrain from filling up at the cycle’s peak, Mr Khoury said their analysis suggested prices would be lower when it returns.

“We’re in that price cycle period but, global factors permitting, the next cycle should be about 3c lower than current prices,” he said.

Mr Khoury said the increase is expected to fall short of the $1.50 averages experienced a few weeks ago.

The current prices, even at the bottom of the cycle, are a far cry from the sub-$1 lows experienced before Christmas last year.

Unfortunately we won’t be seeing these prices again anytime soon, but there is some relief in sight.

Prices at the time dropped to four year lows with both chain and independent services stations selling fuel for under $1 per litre.

But the trend didn’t last for long as prices shot back up and haven’t been repeated since.

The cheapest petrol available in Sydney today was at Metro South Hurstville on King George’s Road, which was selling unleaded petrol at 123.7c.

Extracted in full from the Daily Telegraph.