Petrol prices in Sydney and Brisbane set to hit 11-year high before long weekend

Petrol prices in Sydney and Brisbane are high

Motorists in Sydney and Brisbane have been told it is too late to fill up cheaply before the long weekend and petrol prices are set to hit record highs.

In Sydney the average price of petrol is expected to reach 166c a litre on Wednesday and will not drop again until next week. In Brisbane the record average of 169.9c a litre across the city, set a year ago, will be threatened.

An NRMA spokesman, Peter Khoury, said the volatility of world oil prices was to blame and Australia was “hugely exposed”.

“We knew the attacks in Saudi Arabia, along with the ongoing trade war between the United States and China and a weaker Australian dollar, would all work against our members here at home, and we are now confronted with 11-year-high prices just as families are going away,” Khoury said.

The NRMA said Sydney families on average spent about 20% of their weekly budget on transport costs and the high prices come when families can least afford them.

“Not only are they paying for it at the bowser but they’re paying for it in terms of the broader impact on the economy,” Khoury said.

However, relief was on the way, he said. There would be a slight fall in world oil prices to reduce petrol costs by 10 cents a litre later in October.

In the meantime, he said: “Stay out of the servos if you can. If you have to fill up, do your research.”

 

Published by “The Guardian”

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