Aussie drivers warned of mega petrol price hikes ahead of Christmas – here’s where you’ll pay the most
Australian motorists have been warned petrol prices will rise ahead of the Christmas holidays.
Fuel prices are expected to top $2 a liter in the coming weeks as millions of Australians hit the road ahead of the festive season.
The national average price of unleaded gasoline for the week leading up to December 3 was $1.92 per liter.
The good news is that prices are not expected to reach September’s all-time highs.
Wholesale prices in Sydney have since fallen by 25 cents per litre, according to the NRMA.
How much you’ll pay to fill up this Christmas depends on where you fill up.
Rising fuel prices are not on the wish list this holiday season.
“Prices in Sydney will rise,” NRMA spokesman Peter Khoury told Daily Mail Australia.
“We’re keeping a close eye on when prices will spike and when prices will fall, but we’re hopeful it will happen sooner rather than later.”
“It’s difficult to predict when the cycle will peak, but we hope prices will come down again as people go on holiday.”
“Even when we reach the highest point of the cycle, Sydneysiders shouldn’t see the highs we saw just a few weeks ago.”
Price increases will hit cash-strapped households the hardest as the cost of living crisis continues.
“This is going to really hit families hard for the holiday break,” said Chris Ford of Compare the Market. Nine news.
“(There is) a big difference between the cheapest and most expensive fuel in Greater Sydney.”
Queensland is the most expensive state or territory to fill up, with motorists in Brisbane currently paying $1.97 a liter at the pump.
Queensland motorists are expected to pay top dollar at the pumps this Christmas.
Prices in Queensland could reach $2.20 in the coming weeks.
Consumption levels in the Northern Territory ($2.06) and South Australia ($2.08) have already surpassed the $2 per liter mark, according to Compare The Market.
New South Wales is among the cheapest states with an average cost of $1.81 per liter.
But the difference between Sydney’s highest and lowest petrol prices was still 68 cents a liter on Wednesday.
Mr Khoury said average prices in Hobart, Darwin and Melbourne were currently between $1.80 and $1.89, with Canberra at $1.94.
Meanwhile, in New Zealand, petrol prices fell to a five-month low.
Prices are likely to continue to fall in January due to increased US oil production and a stronger New Zealand dollar.
Prices are not expected to reach the record highs of recent months. The photo shows petrol prices in Sydney in August.