Petrol prices: Motorists urged to fill up before Easter
By Sourced Externally
April 12, 2022
Motorists are being urged to fill up their tanks before Easter to take advantage of lower petrol prices before they rise again.
Australia’s record bowser squeeze has unwound over the past two weeks as tax cuts, easing global oil prices and a dip in local promotional cycles have flowed through to retailers.
The average weekly petrol price has now fallen 32.4 cents per litre (cpl) in the two weeks since the federal budget halved the fuel excise for six months – the fastest falls in recorded history.
Retail data shows the vast majority of service stations have now passed on the 22.1 cpl tax cut, which will be maintained for six months.
But some service stations still haven’t reduced their prices.
The benefit of easing fuel costs should also continue to flow through to motorists, but experts warn the next rise in market cycles across major east coast cities like Melbourne, Brisbane and Sydney is just around the corner.
It means prices will likely start to rise again sooner rather than later, underscoring why motorists should fill up now before the Easter long weekend.
“Motorists on Australia’s east coast should be on guard with the retail petrol price discounting cycle now four weeks old,” CommSec senior economist Ryan Felsman said in a statement.
“Despite the fall in international fuel costs, a price hike in both Brisbane and Sydney appears imminent. Motorists should fill up their tanks ahead of the Easter long weekend.”