With intrastate travel restrictions easing across the country, many Aussies will be itching to hit the road this long weekend. Motorists in Sydney, Brisbane, Perth and Canberra are advised to shop around for the lowest fuel prices in their area, as prices are expected to rise this week. Meanwhile, Melbourne and Adelaide motorists will continue to see low prices at the bowser over the next few days as they near the end of their petrol price cycles.
The latest quarterly petrol analysis from comparethemarket.com.au has been released ahead of the Queen’s Birthday long weekend, which is observed in all States apart from Queensland and Western Australia. The free comparison website updates its prices for all types of fuel across participating stations in Australia on the free petrol app Simples, to help motorists find the lowest prices in their area. Comparethemarket.com.au analysed the average cents per litre (cpl) of unleaded petrol (ULP) in Sydney, Melbourne, Brisbane, Adelaide, Perth and Canberra in the quarter to June, to gauge whether prices will likely rise or fall into the long weekend.
Abigail Koch, household savings expert at comparethemarket.com.au, says: “During the height of the pandemic, petrol prices were at the lowest we had seen in decades. Our analysis shows that motorists paid an average of 113cpl for unleaded petrol over the last quarter – 25cpl less than in the March quarter. Motorists in Canberra paid the most, with a quarterly average of 122cpl, while Adelaide had the cheapest petrol, at 108cpl. With travel restrictions across the country easing as of June, we advise motorists to shop around for the cheapest petrol in their area ahead of the long weekend, or if they are taking a road trip, pinpoint petrol stops along to secure the lowest prices.”
Motorists in Adelaide paid the least for ULP across the country in the quarter to June, with a quarterly average of 108cpl, compared with 134cpl in the quarter to March. There was only a 3cpl difference between the cheapest and most expensive sub-region over the last quarter: Adelaide West averaged 106cpl, while Adelaide Central and Hills averaged 109cpl. As of the morning of Monday 1 June, Adelaide Airport showed the cheapest ULP, at 93cpl. With Adelaide’s price cycle at, or near, its end, each day motorists wait to fill up their tanks will save them money. However, with the past few price cycles being quite short, motorists should fill up before the long weekend as it’s likely prices will rise. Comparethemarket.com.au’s analysis shows that the top of last week’s price cycle was nearly 5cpl higher than the previous price peak, which suggests that next cycle will see even higher, or as high, prices as the current cycle.
Abigail says: “The demand in fuel prices earlier this year was slow due to the effects of the pandemic, but since the end of April, retail and wholesale fuel prices have slowly recovered. Wholesale prices are forecast to ease slightly next week but may soon rise again. While retailer prices overall have not yet risen to reflect increased import costs, they appear to be starting to increase once again. Therefore, we recommend motorists shop around for the lowest petrol prices in their area using free fuel comparison apps such as comparethemarket.com.au’s Simples.”
Quarterly average price for ULP in major capital cities 3 March-1 June (Q2) and 7 January-6 April (Q1)
|City||3-month ULP average (cpl) – to June qtr 2020||3-month ULP average (cpl) – Mar qtr 2020||Difference between Q1 and Q2 2020 (cpl)|
Sub-regions with the lowest average ULP prices 3 March-1 June 2020
|City||Sub-region with lowest petrol price||June qtr ULP average (cpl)|
|Melbourne||Darebin – North||109|
|Brisbane||Brisbane – South||112|
|Adelaide||Adelaide – West||106|
Sub-regions with the highest average ULP prices 3 March-1 June 2020
|City||Sub-region with highest petrol price||June qtr ULP average (cpl)|
|Brisbane||Brisbane – East||118|
|Adelaide||Central and Hills||109|
Suburbs with the lowest average ULP prices on Monday morning 1 June 2020
|City||Suburb with lowest petrol price||ULP average price Monday morning (cpl)|
|Sydney||Croydon ParkStrathfield South||97|
Suburbs with the highest average ULP price on Monday morning 1 June 2020
|City||Suburb with highest petrol price||ULP average price Monday morning (cpl)|
|Sydney||Umina Beach, Woy Woy||126|
|Canberra||Belconnen, Braddon, Charnwood, Conder, Deakin, Dickson, Giralang, Holt, Lyneham||111|