Aussie motorists have been warned petrol prices are set to soar in the lead-up to the Christmas holidays.

Fuel prices are tipped to surge past $2 a litre in the coming weeks as millions of Aussies hit the road for the festive holiday season.

The average national price for unleaded petrol was $1.92 per litre in the week leading up to December 3.

The good news is that prices aren’t expected to hit the record highs of September.

Wholesale prices have fallen by 25c a litre in Sydney since, according the NRMA.

How much you’ll pay at the pump this Christmas depends on where you fill up.

‘Prices will be going up in Sydney,’ NRMA spokesman Peter Khoury told Daily Mail Australia.

‘We’re monitoring closely of when the spike will hit and when prices will fall but we hope it will be sooner rather than later’

‘It’s difficult to predict when the cycle will hit its highest but we’re hoping prices will go down again as people go away on holidays.’

‘Even as we get to the high point of the cycle, Sydneysiders should not see the highs that we’d seen only a few weeks ago.’

The price hike will hit cash-strapped households the worst as the cost of living crisis continues.

‘This one really hits hard for families that are going to hit the road for the festive break,’ Compare the Market’s Chris Ford told Nine News.

‘[There is] a big difference between the cheapest and the most expensive fuel in greater Sydney.’

Queensland is the most expensive state or territory to fill up, where motorists in Brisbane are currently paying $1.97 a litre at the pump.

Prices could hit $2.20 in Queensland in the coming weeks.

Also already over the $2-a-litre mark are the Northern Territory ($2.06) and South Australia ($2.08), according to Compare The Market.

NSW is among the cheapest states with an average $1.81 a litre.

But there was still a 68 cent a litre difference between the highest and lowest price points for petrol in Sydney on Wednesday.

Average prices in Hobart, Darwin and Melbourne are currently in the $1.80-$1.89 mark while Canberra is at $1.94, according to Mr Khoury.

Meanwhile in New Zealand, petrol prices have fallen to a five-month low.

Prices are likely to continue to fall into January due to increased oil production in the US and a stronger New Zealand dollar.

Extracted in full from:  https://www.dailymail.co.uk/news/article-12834163/Aussie-drivers-warned-mega-petrol-price-hikes-ahead-Christmas-heres-youll-pay-most.html

SHARE THIS ARTICLE: