Motorists across Melbourne are set to be stung at the petrol pump as retailers jack up prices. But drivers can still find cheap fuel if they’re prepared to shop around.

Motorists are being urged to fill up as the cost of fuel soars to the highest price all year.

Melbourne’s outlets have started to jack up the price of unleaded petrol to 175.9 cents a litre — but there are still cheap deals on offer if you are quick.

RACV senior engineer Nick Platt said now was the time to shop around, with a difference of 52 cents per litre available.

Mr Platt said the wholesale price was around 129.5 cents a litre, so those charging 175.9 cents were making large profits.

“It’s a really big price hike — it is the highest price all year,” he said.

“It’s a big jump, we would call on retailers to do the right thing by consumers as we come out of the lockdown.”

He pointed to a number of petrol stations in Melbourne’s southeast and north which were still offering cheap fuel.

The 7-Eleven at Cheltenham Rd, Keysborough, was selling petrol as low as 123.9 cents a litre on Thursday afternoon, making it the cheapest in the city.

A number of retailers in Craigieburn have prices set at 124.9 cents a litre, and service stations in Melbourne’s inner north, including Parkville, were at 127.9 cents a litre.

Mr Platt said drivers should head to the bowsers at service stations still offering lower prices, as many across the city were expected to start rapidly rising over the weekend.

“It’s not uncommon if lots of these servos will start putting up their prices by up to 40 cents a litre, maybe more, overnight,” he said.

“Generally what happens is they compete with each other down to the wholesale price but they won’t be making much money, so to recoup margins everyone starts following suit (and push prices up again).

“A few servos start jacking up prices to see if they can get away with it,” he added.

Mr Platt reminded motorists that if an area has a number of independent suppliers, costs in that suburb tended to be lower.

“Shop around and use a fuel finder to locate the best prices,” he said.

Extracted in full from: Petrol prices Melbourne: Where to get cheap fuel | Herald Sun