The average price of unleaded petrol in Perth will reach 208.9c per litre on Wednesday, obliterating the previous record set just a fortnight ago by more than 20c.
It is the first time petrol has soared beyond $2 per litre on average, after reaching the $1.95 on February 23 as part of Perth’s two-weekly price cycle.
That was the day before Russia invaded Ukraine, a conflict that has sent oil prices to stratospheric levels amid fears of supply disruptions.
According to the WA Treasury Corporation, the price of a barrel of Brent crude oil has surged by around US$30 in the past fortnight to more than US$124.
Perth’s unleaded average on Tuesday – the low point of the cycle – was 179.1c, meaning the price is poised to hike by nearly 30c overnight.
In an alert issued Tuesday, Fuel Watch warned “most branded retailers are hiking their ULP price”.
“Ampol, BP, Caltex Woolworths and Coles Express hiking between 32-46 cpl up to 221.9 cpl; Puma up to 221.7 cpl; and 7-Eleven and United up to 209.9 cpl,” FuelWatch said.
BP Langford will slug motorists 228.9c per litre for unleaded, the most expensive bowser price in Perth on Thursday – but well over 100 petrol stations will charge 221.9c per litre.
Extracted in full from: Fuel prices Australia: Average price of unleaded petrol in Perth reaches 208.9 cents a litre | PerthNow