Motorists urged to shop around amid 48c price difference for unleaded petrol
By Sourced Externally
December 19, 2023
Melbourne motorists are being urged to shop around with a huge 48c price difference between the cheapest and most expensive unleaded petrol today.
Melbourne motorists are being urged to shop around as there are huge price variations for petrol depending on the service station they pick to fill up.
RACV’s fuel tracking website states the highest price in metropolitan Melbourne for ordinary unleaded petrol was 215.9 cents per litre yesterday – compared with 167.9 cents per litre for the cheapest fuel.
The average for Melbourne was 189.5 cents per litre and RACV warns motorists not to pay more than 172.9 cents per litre.
Australasian Convenience and Petroleum Marketers Association CEO Mark McKenzie said it was important for motorists to shop around to get the best deal.
“The petrol price cycle in Melbourne is on the turn and is going to increase,” he said.
“Some service stations are still selling at a discount so over the next 7 to 10 days there will likely be a big disparity between the highest prices and the lowest prices.
“It is very important for motorists to shop around now because they will likely be able to get a much better deal with some research.”
Mr McKenzie encouraged people who were driving out of Melbourne to also look at the petrol prices at their destination.
“The petrol price cycle is very much a metropolitan phenomenon so it is quite likely that people may find cheaper petrol either at their destination or along the way,” he said.
“It makes sense to look at petrol prices at your destination because there petrol price cycle doesn’t really exist in regional areas.”
Mr McKenzie said although fuel prices were likely to jump in coming days with the petrol price cycle, the increase would be lower than last time.
“The wholesale fuel price has come down a bit and the Australian dollar has strengthened a little bit recently,” he said.
“I am expecting that the top average price to be 20 to 25 cents lower than the previous cycle because the wholesale fuel prices are lower.”
Mr McKenzie dismissed speculation the increasing prices in Melbourne were linked to the upcoming Christmas holiday.
“It’s always been a case that people make the allegation that service stations jack prices up in the lead up to a public holiday period but that’s not really the case,” he said.
“They make more profit from non-fuel sales so attracting more customers who may purchase food and drinks will make them more profit then simply increasing the cost of fuel.”