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Petrol Could Rise Up To 20 Cents By ANZAC Day


Petrol Could Rise Up To 20 Cents By ANZAC Day

Author: NRMA MediaDate: 22 April 2010

After two weeks of Sydneysiders enjoying petrol prices well below the national average, prices could rise by up to 20 cents per litre by the ANZAC Day long weekend, according to NRMA Motoring & Services.

NRMA President Wendy Machin said the weekly petrol price cycle did not eventuate again in Sydney over the weekend as a result of heavy discounting by major retailers, continuing a two-week trend.

"Sydney motorists are currently enjoying prices five to 11 cents per litre cheaper than the other capital cities and the average Sydney price for unleaded petrol has remained around 122 cents per litre for the past 10 days," Ms Machin said.

"This is great news for Sydney motorists but nothing good lasts forever. We advise motorists to fill up today to take advantage of cheaper prices."

Ms Machin said the current average Sydney price was about five cents less per litre than what it should be based on a range of local and international factors including the price of Singapore refined petrol and the value of the Australian dollar.

"If the normal weekly price cycle is restored this weekend, the average price would tend to rise by at least 12 to 15 cents per litre," Ms Machin said.

"In this scenario NRMA can see the possibility of Sydney prices rising by up to 20 cents per litre by the ANZAC Day long weekend if the five cents per litre discounting stops as well."

Ms Machin said Sydney's average unleaded petrol prices were nine to 14 cents per litre cheaper at the high point of other major capital cities' price cycles.

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