If you’re thinking of filling up on the cheap before setting off before the long weekend, it’s already too late.
In Sydney it’s expected that the average price for petrol will reach 166 cents per litre on Wednesday, and won’t drop again until next week, according to the NRMA.
NRMA spokesman Peter Khoury said the increased volatility of world oil prices is to blame.
I wish we had better news to share leading up to the holidays. Blowing up a refinery in Saudi Arabia was always gonna hit us at the bowser here in Australia sooner or later. Get on the @NRMA app because there are still some bargains in Sydney – for now. https://t.co/B52ehPlOEJ
— Peter Khoury (@PeterNRMA) September 28, 2019
“We knew the attacks in Saudi Arabia, along with the ongoing trade war between the United States and China and a weaker Australian dollar would all work against our members here at home and we are now confronted with 11-year high prices just as families are going away,” Mr Khoury said in a statement.
In Brisbane, drivers could soon be paying record prices to fill up.
The RACQ expects petrol prices to peak on Wednesday when the record average of 169.9 cents per litre across the city, set a year ago, will be threatened.
Prices in some areas in southeast Queensland have already exceeded $1.70, the RACQ said.
“We’re urging motorists if they see these high prices, to keep on driving past,” RACQ spokesman Paul Turner said.
Petrol prices are set to skyrocket to the highest they’ve been in 11 years in Sydney. #9Today pic.twitter.com/YAY1zLelf9
— The Today Show (@TheTodayShow) October 1, 2019
The smart thing to do is wait to fill up, or only top up your tank, if you want to avoid the hit to your wallet.
Mr Khoury said relief is on the way, with a slight fall in world oil prices to improve prices by 10 cents per litre later this month.
-with AAP
The post Motorists under the pump as petrol prices soar appeared first on The New Daily.
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