Aussie petrol prices hit all-time high across capital cities - here are the reasons why

1 year ago 37

By Blair Jackson For Nca Newswire

Published: 23:14 EDT, 26 April 2024 | Updated: 23:14 EDT, 26 April 2024

Petrol prices person deed grounds highs crossed large superior cities, with the spike successful prices a effect of rising wholesale costs, precocious lipid prices and a anemic Australian dollar.

The nationalist single-day mean terms for Unleaded 91 deed $2.17 connected Friday, according to caller information from Compare The Market.

But the mean prices successful Melbourne, Brisbane and Adelaide were really supra that record-high mark.

The erstwhile high-water people terms was reached successful September past year.

The sky-high terms is simply a regular benchmark, not an across-the-board mean for the week oregon month.

The nationalist single-day mean terms for Unleaded 91 deed $2.17 connected Friday, according to caller information from Compare The Market. But the mean prices successful Melbourne, Brisbane and Adelaide were really supra that record-high mark 

'Motorists whitethorn spot these precocious prices astatine substance stations crossed the federation and blasted the retailers, but there's a batch much going connected down the scenes,' Compare The Market spokesperson Chris Ford said

Analysis by Compare The Market shows a spike successful the bowser terms successful Adelaide dragged the nationalist mean up into uncharted territory connected Friday.

'On Wednesday, the citywide mean successful Adelaide was conscionable nether $1.92 a litre, but soared to 2.10 by Thursday and up to $2.25 again connected Friday,' Compare The Market spokesperson Chris Ford said.

The spike successful prices has been blamed connected rising wholesale costs, precocious lipid prices and a anemic Australian dollar

'This spike, on with the precocious retail prices our different cities are besides seeing, are what caused specified a melodramatic uplift successful the nationalist average.'

Perth has a metronomic play terms cycle. Adelaide's rhythm was comparatively little consistent, but Adelaide prices and the nationalist mean were expected to driblet successful the coming days, Mr Ford said.

'Motorists whitethorn spot these precocious prices astatine substance stations crossed the federation and blasted the retailers, but there's a batch much going connected down the scenes,' Mr Ford said.

Some wholesale prices person jumped 14 per cent to $1.88/L, helium said.

'We besides cognize that erstwhile the Australian dollar loses crushed connected the US dollar, it tin interaction prices astatine the pump.

'Oil prices are besides climbing owed to struggle successful the Middle East. Oil prices aren't acold down the highs we saw past September, which could beryllium wherefore we're present seeing those nationalist mean retail terms records being smashed,' Mr Ford said.

'Oil prices aren't acold down the highs we saw past September, which could beryllium wherefore we're present seeing those nationalist mean retail terms records being smashed,' Mr Ford said 

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