Beat the Christmas hike: Motorists urged to fill up early as petrol prices set to soar
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As the festive season approaches, Australian motorists are now urged to fill up their tanks to avoid a predicted petrol price hike on Christmas Day.
But where can you find the cheapest petrol near you?
Let's delve into the details.
The Australasian Convenience and Petroleum Marketers Association (ACAPMA) has warned motorists to take advantage of the current 'bottom of the fuel price cycle' in various capital cities.
ACAPMA Chief Executive Mark McKenzie emphasised the importance of shopping around, as there could be a significant difference between the cheapest and most expensive fuel in city areas.
According to McKenzie, petrol prices vary from store to store rather than by suburb. This is due to a phenomenon he refers to as 'discount leapfrog'.
In this game, individual outlets compete to offer the best deals, leading to a price fluctuation within the same area.
For instance, a service station in Sydney’s Padstow suburb was selling petrol for just $1.53 a litre, while nearby outlets were charging $2.17, as reported by Petrol Spy.
Similarly, in Melbourne's northeast suburb of Preston, an outlet charged $1.66 a litre while nearby competitors charged $2.15.
As of Tuesday, December 20, the average fuel price in Melbourne was $1.87 a litre, according to analytics group Informed Sources.
Sydney, about a week ahead of Melbourne's price cycle rise, had an average price of $2.03 per litre.
However, McKenzie predicted that Melbourne and Sydney prices could rise to an average of $2.10 a litre by Christmas.
'I would definitely fill up sooner rather than later. And make sure to shop around because there are bargains out there,' he advised.
Eleanor Colonico, a Spokeswoman for the Victorian motorist group RACV, suggested that drivers in Melbourne should avoid paying more than $1.73 a litre on Tuesday.
Meanwhile, NSW NRMA Spokesman Peter Khoury pointed out that independent outlets usually offered the best bargains, who tried to keep prices at the bottom end of the cycle longer than possible.
He also confirmed that Sydney’s petrol price is on an upward trajectory.
‘Unfortunately, Sydney’s price cycle is heading up,’ Khoury said.
‘We were at the bottom of the cycle at the start of the week, but it’s heading up as we run into Christmas.’
Khoury earlier warned about the ‘potluck’ or unpredictable nature of Sydney’s petrol price cycle, even going so far as advising motorists to avoid fuelling in the urban centre, if possible.
In Queensland, RACQ Fuel Expert Ian Jeffreys reported that the average price for regular unleaded petrol across the state's southeast was $1.80 a litre.
But with some effort, motorists might find the 33 per cent of stations charging below $1.75 per litre for regular unleaded.
‘Southeast Queensland is entering the cheap phase of its fuel price cycle, and we expect prices to stay relatively cheap over the Christmas and New Year period,’ Jeffreys said.
‘It's a great time to fill up and take advantage of this cheaper fuel, which is widely available.’
According to Informed Sources, Adelaide's average fuel price on Tuesday was $2.02 a litre, while it was $1.70 in Perth, $1.90 in Canberra, and $1.87 in Hobart and Darwin.
Colonico explained that various factors, including geographical area, availability, international benchmark prices, taxes, the Australian dollar's value, and demand levels, could influence fuel prices.
As petrol prices are set by individual stations, it's worth checking out what's being offered in your vicinity. With the impending price hike, it's more crucial than ever to be savvy about where and when you fill up your tank.
What are your tips for finding the cheapest petrol? Let us know in the comments below!
But where can you find the cheapest petrol near you?
Let's delve into the details.
The Australasian Convenience and Petroleum Marketers Association (ACAPMA) has warned motorists to take advantage of the current 'bottom of the fuel price cycle' in various capital cities.
ACAPMA Chief Executive Mark McKenzie emphasised the importance of shopping around, as there could be a significant difference between the cheapest and most expensive fuel in city areas.
Petrol prices are set to soar on Christmas Day. Credit: Unsplash
According to McKenzie, petrol prices vary from store to store rather than by suburb. This is due to a phenomenon he refers to as 'discount leapfrog'.
In this game, individual outlets compete to offer the best deals, leading to a price fluctuation within the same area.
For instance, a service station in Sydney’s Padstow suburb was selling petrol for just $1.53 a litre, while nearby outlets were charging $2.17, as reported by Petrol Spy.
Similarly, in Melbourne's northeast suburb of Preston, an outlet charged $1.66 a litre while nearby competitors charged $2.15.
As of Tuesday, December 20, the average fuel price in Melbourne was $1.87 a litre, according to analytics group Informed Sources.
Sydney, about a week ahead of Melbourne's price cycle rise, had an average price of $2.03 per litre.
However, McKenzie predicted that Melbourne and Sydney prices could rise to an average of $2.10 a litre by Christmas.
'I would definitely fill up sooner rather than later. And make sure to shop around because there are bargains out there,' he advised.
Petrol prices in several states have already surged. Credit: Unsplash
Eleanor Colonico, a Spokeswoman for the Victorian motorist group RACV, suggested that drivers in Melbourne should avoid paying more than $1.73 a litre on Tuesday.
Meanwhile, NSW NRMA Spokesman Peter Khoury pointed out that independent outlets usually offered the best bargains, who tried to keep prices at the bottom end of the cycle longer than possible.
He also confirmed that Sydney’s petrol price is on an upward trajectory.
‘Unfortunately, Sydney’s price cycle is heading up,’ Khoury said.
‘We were at the bottom of the cycle at the start of the week, but it’s heading up as we run into Christmas.’
Khoury earlier warned about the ‘potluck’ or unpredictable nature of Sydney’s petrol price cycle, even going so far as advising motorists to avoid fuelling in the urban centre, if possible.
In Queensland, RACQ Fuel Expert Ian Jeffreys reported that the average price for regular unleaded petrol across the state's southeast was $1.80 a litre.
But with some effort, motorists might find the 33 per cent of stations charging below $1.75 per litre for regular unleaded.
‘Southeast Queensland is entering the cheap phase of its fuel price cycle, and we expect prices to stay relatively cheap over the Christmas and New Year period,’ Jeffreys said.
‘It's a great time to fill up and take advantage of this cheaper fuel, which is widely available.’
According to Informed Sources, Adelaide's average fuel price on Tuesday was $2.02 a litre, while it was $1.70 in Perth, $1.90 in Canberra, and $1.87 in Hobart and Darwin.
Colonico explained that various factors, including geographical area, availability, international benchmark prices, taxes, the Australian dollar's value, and demand levels, could influence fuel prices.
As petrol prices are set by individual stations, it's worth checking out what's being offered in your vicinity. With the impending price hike, it's more crucial than ever to be savvy about where and when you fill up your tank.
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