With the previous government’s fuel excise cut ending on September 29, prices have been on a gradual incline as petrol stations buy in new fuel at a higher rate.
In some parts of Melbourne this morning, servos have shown different prices of up to 40c a litre only few kilometres apart.
Other locations in Melbourne, Sydney, Brisbane and Adelaide “are expected to follow any minute”.
“For a few days now, there will be some bargains as some locations are slower to spike,” Joel Gibson from consumer advocacy group One Switch said.
“So use the fuel price apps to find them and fill up ASAP.
“With the fuel tax returning and OPEC+ cutting oil production recently by two million barrels a day, it’s hard to imagine we will see prices below $1.80 again for some time.”
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But the petrol tax is not the only factor impacting Australia’s fuel prices, the cost at the bowser is also climbing for international reasons.
The Organisation of Petroleum Exporting Countries (OPEC) has agreed to cut production by 100,000 barrels a day, which is also causing prices to rise.
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