Melbourne and Sydney petrol prices hit 17-week high, while Brisbane drivers should fill up now

Melbourne and Sydney petrol prices hit 17-week high, while Brisbane drivers should fill up now

Petrol prices in Australia’s two major cities have hit 17-week highs, with economists warning Queensland drivers to fill up now.

Commonwealth Bank’s economic division CommSec said the national average petrol price rose four cents at the end of last week to 125.7 cents a litre, its highest prices since the onset of the coronavirus pandemic in late March.

The increased cost at the pump was especially felt in Melbourne and Sydney where prices peaked at $1.41 and $1.37 per litre respectively.

According to CommSec, Brisbane bowser prices hit the bottom of the cycle at $1.12 per litre last Friday, with unleaded fuel prices already above $1.20 a litre in Cleveland, Acacia Ridge, Eagle Farm and Ascot Vale.

Jindalee, Sumner Park and Mt Ommaney are offering the cheapest petrol prices in the Brisbane metro area at levels below $1.04 a litre.

Southwestern Sydney in Villawood, Chester Hill and Lansdowne are offering the cheapest petrol in the metro area, with fuel prices as low as $1.10 per litre.

Cheapest Melbourne prices can be found in Footscray, Avondale Heights and Brunswick at $1.25 a litre.

The average unleaded fuel price in Sydney is up 10 cents to 134.2 cents a litre, while Melbourne prices have soared by 14.1 cents to 139.2 cents a litre. Average Brisbane prices are down 9 cents to 114.2 cents per litre.

“According to data from MotorMouth, average daily unleaded retail petrol prices in Sydney and Melbourne have begun easing with the commencement of the discounting cycle,’ CommSec said.

“Petrol prices are back below $1.10 a litre in some southwestern Sydney suburbs. But Brisbane motorists should fill up now with pump prices beginning to lift.”

At the end of last week, the average metropolitan price for unleaded petrol rose by 5.5 cents to 128.7 cents a litre, while the regional price was up by 0.8 cents to 119.5 cents a litre.

Over the past week, average unleaded petrol prices were up 9.3 cent to 127.4 cents per litre in Adelaide, while prices in Hobart were up 0.2 cents to 124.1 cents per litre.

Perth unleaded prices are down 0.5 cents to 120.1 cents per litre, Darwin prices are down 0.2 cents to 118.9 cents a litre and Canberra is steady at 122.9 cents a litre.