Fuel Prices Set To Soar As Reprieve Comes To An End: NRMA Photo:

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Trevor Collett | Jun, 17 2015 | 13 Comments

Fuel prices are set for their biggest quarterly jump in 25 years, as the temporary reprieve that arrived late last year comes to an end.

Some service stations were selling regular unleaded and ethanol-blended fuels for around $1 per litre (pictured, above) as the price cut hit its most aggressive stage, but prices have risen steadily since then.

The NRMA is advising motorists to fill up now, as the price hike could be as much as 17 cents per litre in some areas.

A recent price drop over the last seven days is only in line with the regular price cycle, the NRMA said, and the pump price could exceed 150 cents per litre again by the end of the week - an eight-month high.

Regional areas in NSW have already seen prices creep up ahead of the expected jump, with average prices for regular unleaded rising 0.4 cents per litre and diesel spiking 1.8 c/l.

The average price in Sydney at present is 134.7 c/l for E10, 154.4 for premium 98 RON, 130.7 for diesel and 63.0 for LPG.

Melbourne, however, was already averaging 141.7 c/l for unleaded, with prices set to rise further.

Fuel suppliers are paying 131 c/l on average at a wholesale level, which is a seven-month high.

While prices are still down on this time last year, ‘low’ prices - compared to what motorists have come to expect - may already be a thing of the past.

MORE: No More Fossil Fuels By 2100, Emissions Set For 30 Percent Cut In EU
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