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Fill now! Gasoline prices will rise by up to 20 cents a liter in just DAYS as expert warns drivers to grab a bargain while you still can
- Australians are ready for a petrol price spike in the coming days
- NRMA’s advice is to refuel now before prices rise between 15-20 cents
- Tuesday there was a sale price of 172 cents per liter for regular unleaded
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Motorists are urged to refuel as soon as possible – petrol prices are expected to rise significantly in the coming days.
The NRMA advised and warned motorists that because the country was at the bottom of the gasoline price cycle, motorists could expect a spike of between 15 and 20 cents.
On Tuesday, there was a retail price of 172 cents per liter across Sydney for plain unleaded – which is well below the wholesale price.
But NRMA spokesman Peter Khoury said the cheap prices wouldn’t last long.
“We’re actually getting a pretty good bargain now,” said Mr Khoury 9News.
‘It’s important that people make the most of it… those prices are only going to rise, unfortunately.’
Drivers in Sydney are urged to refuel as soon as possible – petrol prices are expected to rise significantly in the coming days
Peter Khoury (pictured) of NRMA said: ‘It’s important that people make the most of that… those prices are only going to rise unfortunately’
Fuel prices fell slightly last week, according to the Australian Institute of Petroleum’s weekly report, despite the expectation that the reintroduced fuel excise tax would flow through.
It saw the average sales price across the country fall by 3.9 cents to 178.6 cents per liter last week.
According to a report by the Australian Institute of Petroleum, fuel prices have fallen slightly over the past week, despite expectations that the reintroduced fuel excise tax would flow through.
Lead-free prices fell in Sydney, Canberra, Melbourne, Brisbane, Adelaide and Perth, while prices rose in Darwin and Hobart.
Craig James of CommSec said some retailers were charging less than cost – which would not be sustainable in the long run.
The former Morrison government introduced a fuel tax cut earlier this year to save drivers some money after Russia’s invasion of Ukraine sent oil prices soaring.
But the savings of 22 cents per liter was cut on Sept. 29, as gas stations slowly worked through their discounted fuel.
James said he suspected the Australian Competition and Consumer Commission’s control efforts were preventing petrol stations from raising prices unnecessarily.
Treasurer Jim Chalmers suggested that the consumer watchdog keep an eye on retailers when the fuel tax was reintroduced last month.
The end of the fuel tax cut is expected to add more than 20 cents to the price at the pump, once retailers have worked through their stock of discounted fuel
dr. Chalmers said he hoped the country could avoid a recession because of its strong economic fundamentals.
Upon his return from Washington DC, Dr. Chalmers that the global economy was on a “dangerous path” when it came to the prospect of another global downturn.
He told reporters in Canberra on Monday: ‘We hope Australia can avoid a recession.
“We have low unemployment, we have relatively solid growth, relatively solid demand.
‘We have good prices… for our raw materials around the world with a positive impact on the budget.’
However, he suggested that the nation would not be “completely spared another global downturn.”
Treasurer Jim Chalmers said he hopes the country can avoid a recession because of its strong economic fundamentals