Australian motorists can look forward to even cheaper petrol prices in the lead-up to the Easter and Anzac Day long weekends as global oil prices remain in freefall.
Research from the NRMA released today shows the Australian regional benchmark for oil, Tapis crude, has been in sharp decline over recent weeks since US President Donald Trump imposed his tariffs.
During the past week, the price of oil has also fallen $US10 a barrel, while the Terminal Gate Price, or wholesale price, of regular unleaded petrol has dropped eight cents to 157.6 cents per litre.
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Bowser prices should continue falling through the Easter and Anzac Day long weekend, the NRMA said.
Motorists in Sydney will enjoy some of the best deals, with regular unleaded already dipping to the bottom of the cycle at 168.5 cents per litre and further falls forecast.
According to the NRMA, in Sydney 73 per cent of service stations are selling regular unleaded for less than 170 cents per litre.
Perth also has some of the country’s cheapest prices.
Today is the cheapest day of the week to fill up in the Western Australia capital where regular unleaded sells for 165.8 cents per litre.
In comparison, motorists in Melbourne and Brisbane will likely have to wait before the bowser price drops.
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The Victorian capital has hit the top of its cycle at 199.1 cents per litre, rising further than expected.
Melburnians travelling this week should fill up outside the city as prices are likely to be lower in regional Victoria.
The price cycles in Brisbane (177 cents per litre) and Adelaide (172.1 cents per litre) are falling slowly after hitting the high point.
Market jitters about the impact of Trump’s tariffs and next month’s expected increase in oil supply by OPEC+ means Aussie motorists should continue to enjoy cheaper fuel prices.
“Nobody could have predicted the extreme volatility of trading conditions brought about by the United States’ global trade war and things continue to change almost by the hour – however what we know today is that relief is finally at hand for Australian drivers,” NRMA spokesman Peter Khoury said.
“Families will finally get relief – either because prices are falling further than we had originally predicted before the market crashed – or because they did not rise as high as anticipated in Melbourne and Brisbane.”
Current average prices across Australia’s capital cities
- Adelaide 172.1 cents per litre and falling
- Brisbane 177 and falling slowly
- Melbourne 199.1 and top of the cycle
- Perth 165.8 fill up today
- Sydney 168.5, bottom of the cycle
- Canberra 178.9, falling slowly
- Darwin 180, falling slowly
- Hobart 180.5, falling slowly
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