Motorists are fearing they will be charged an arm and a leg at the bowser once the fuel excise tax is restored in September.
But they might see some price relief before then.
The Morrison government slashed the fuel excise from 44c a litre to 22c a litre as petrol prices soared in March to help ease cost of living and supply chain pressures.
The new Labor government has said it would stick with the Coalition’s timetable to restore the full excise in September despite high prices.
Prices were still above $2 at Budget Petrol in Petersham on Monday, where motorists feared the hip pocket pain would only increase throughout the year.
“Obviously it’s (petrol prices) high, it costs a fortune,” plumber Harry Jenkins said as he was filling up his ute with premium diesel priced at 235.9 cents per litre.
“I just paid $150 to fill up the tank, they were saying it’s going higher so it looks like I’ll be working more on the job.”
But Chris Ford from Compare the Market said drivers could take advantage of a drop in prices before the full excise returns.
“There are now predictions that we could see a considerable drop in crude prices in the fourth quarter, and that may start sooner if demand drops,” he said.
“It now looks as if the markets are expecting that the oil price will fall over in the coming months, and it could time nicely with the end of the halving of the fuel excise, so hopefully we won’t get such a shock at the pump in September.”
Extracted in full form: Here’s what end to fuel excise cut will mean for Sydneysiders | Daily Telegraph