Petrol prices have hit their highest on record in Adelaide due to supply falling short of demand as widespread travel resumes across the world, experts say.
Current prices across Adelaide were being advertised at 189.9c/L across most metropolitan outlets on Wednesday morning, including both outlets on West Terrace, Adelaide.
“It’s the highest we’ve had since 2009 when we started collecting records,” the RAA’s Mark Borlace said.
He said the reason for the price hike was fallback from the pandemic.
“The reasons it’s up there is we’re starting to see supply not being able to catch up with demand as planes are starting to fly,” Mr Borlace said.
The high prices mean consumers are being slugged about $24 extra a tank.
Other regional locations, including at William Creek Hotel in the Far North, and the Nullarbor Roadhouse, were advertising petrol at 220c/L on Wednesday morning.
Mr Borlace said the price of petrol coming from the terminal gateway was about 150c/L.
“The only thing that is different now is we’ve got fuel apps out there with real time fuel pricing, so at least people are able to see the market better than they were before,” he said.
Some outlets are advertising as low as 149.9c/L including BP at Mile End and Coles Express at Woodville.
Mr Borlace urged consumers to shop around.
“There’s still a reasonable amount of margin in the market, there’s still 20 or 30 cents sometimes … so even though it’s high it’s an even bigger reason to shop around because there are low prices out there,” he said.
Prices were expected to remain high for around two weeks.
The new record follows a surge in petrol prices in late October, which saw peaks of 185.9c/L.
At the time, the RAA said the hikes were part of an artificial price cycle, which would create the highest prices seen in the state in a decade.
Extracted in full from: Petrol prices soar to new 12 year high in Adelaide | The Advertiser (adelaidenow.com.au)