Price of oil falling? Country in a recession? No worries, let’s unfairly jack-up the price of petrol in Sydney.

That seems to be the business model of some unscrupulous petrol stations which have ignored the current market conditions and have set out to artificially inflate prices for motorists ahead of the long weekend.

But with travel restrictions easing across the state, the NRMA has warned there is no justification for the rise — and says it fears it is just an excuse to reverse falls in prices and increase profit margins.

The average price of petrol has fallen to 103.7c per litre for regular unleaded in Sydney and is expected to drop below $1 a litre as Sydney’s terminal gate price sits at 97.2c a litre.

NRMA spokesman Peter Khoury said drivers should watch the behaviour of oil companies closely after they failed to pass on the full coronavirus-prompted falls of global oil prices during the last price cycle.

“Across the community we are trying to encourage people to plan a road trip and start to head out after months in isolation, Mr Khoury said.

“So now is hardly the time to be artificially forcing up your prices and ripping families off. While global oil prices are starting to increase … the terminal gate price still remains relatively low so there is no reason for service stations to be pushing up their prices.”

On Wednesday night and again yesterday, nearly 20 service stations across Sydney lifted prices to 135.9c for unleaded, while eight bumped up the price to 136.9c — at least 32c/litre above the average.

Motorists in the eastern suburbs, the south and the inner-west were hit hardest.

The 7-Eleven outlets at Kensington, Enmore and Stanmore were charging 136.9c a litre, while Caltex Woolworths and Coles Express at Randwick, BP Clovelly and Coles Express at Gymea were stinging motorists for 135.9c a litre.

Sydney’s cheapest petrol could be found at the Metro Croydon Park (96.9c a litre), Caltex Strathfield South (95.9c) and United Bass Hill was the best of the bunch at 94.5c.

The latest quarterly petrol analysis from comparethemarket.com.au found that over the quarter to June, Sydney motorists paid an average of 116c a litre for ULP, compared with 140c a litre in the previous quarter.

“During the height of the pandemic, petrol prices were at the lowest we had seen in decades,’’ household savings expert Abigail Koch said.

“Our analysis shows that motorists paid an average of 113c a litre in the last quarter.

“With travel restrictions easing, we advise motorists to shop around.’’

Extracted from Daily Telegraph

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