Australian motorists are spending more than ever before on Petrol, data from NRMA has revealed.
Sydney is currently enduring the longest petrol price cycles on record, taking as long as seven weeks to peak.
The data also revealed that 45 per cent of Sydney service stations are staying in the top end of the petrol price cycle for longer, and are charging the maximum prices possible.
The average cost of petrol this year for regular unleaded was 212.2 cents at the top of the price cycle, the NRMA found.
The lowest averge price was 182.3 cents per litre, with a gap between the top and bottom of Sydney’s price cycles being almost 30 cents a litre.
The largest gap between the cheapest and most expensive service stations in Sydney was a record 59.2 cents per litre, the NRMA said.
“Price cycles are unique to Australia and while we have seen them across our largest cities for almost two decades we are now seeing similar trends in larger regional towns located near the capitals,” NRMA spokesperson Peter Khoury said.
“NRMA research exposed the reality of these cycles: they are lasting longer, prices rise up-to three times faster than they fall.
“With this latest research we know that the majority of service stations in Sydney are charging the maximum price longer at the top of the cycle – there are no more outliers.”
The NRMA is launching a new program through their app to help Australians save money at the pump.
