Sydney petrol prices are slowly falling

Petrol prices are slowly falling in Sydney in accordance with the city’s price cycle for the Anzac Day public holiday after breaking the Sydney record last week of 223 cents per litre average for regular unleaded.

On Wednesday, the average price of regular unleaded was 215.9 cents per litre and are falling at less than one cent per day. Prices remain stubbornly high with around 40 per cent of service stations in Sydney selling regular unleaded for 222.9 cents per litre or higher.

Sydney’s wholesale price of 189.6 cents per litre has risen 2.3 cents per litre over the last week and Australia’s international benchmark price for regular unleaded (Mogas) is trading at $US 104 a barrel up $US 13 a barrel since early January.

Average prices in Sydney are expected to fall to the mid-190 cent per litre mark over the next two to three weeks. The gap between the cheapest and most expensive service stations in Sydney on Wednesday was 51 cents per litre – or a savings of more than $28 on a tank of petrol.

NRMA spokesperson Peter Khoury said with many Australians expected to take a long weekend, finding the right place and time to fill up is critical.

“After Sydney broke its record for the highest average price for regular unleaded last week, Brisbane has now come close to doing the same at 231.7 cents per litre, it’s well past the point when Australians need some relief,” Khoury said.

“Families leaving Sydney should consider filling up outside the city as there are a number of regional locations that are cheaper, otherwise please get on the my NRMA app and do your research before filling up because there is a huge spread of prices in the city today.

“Only 18 per cent of service stations in Sydney are below $2 a litre for regular unleaded however as prices continue to fall with the price cycle movements, we expect to see better bargains across the city over the coming week.”

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