World Crude Oil Prices
Over the previous week:
- the average crude oil price rose 1.9 cents per litre; and
- Sydney’s Terminal Gate Price for unleaded rose 1.9 cents per litre to 143.6 cents per litre.
Sydney’s most recent price cycle was 21 days – same as the previous cycle. Today is day twenty of the current cycle, with the current average price for regular unleaded petrol in Sydney at 151.1 cents per litre (Monday afternoon). Average prices are expected to rise to 157 cents per litre by mid-week (see Figure 1). Similar price movements are expected to occur for E10, Premium 95 and Premium 98.
The dearest point of the current cycle was Wednesday 7 May at 159.6 cents per litre for regular unleaded petrol. The corresponding prices for E10, Premium 95 and Premium 98 were 158.5, 171.3 and 177.1 cents per litre respectively.
Canberra, Newcastle, Central Coast and Wollongong Prices
|Average Regular Unleaded and Diesel Price Movements (cents per litre)|
|Regular Unleaded Petrol||Diesel|
|Region||Price W/E 25 May||Price W/E 18 May||Difference||Price W/E 25 May||Price W/E 18 May||Difference|
Regional Prices and Bowser Buster
Average unleaded and diesel prices in most regional towns saw little price movement over the past week.
Of the 54 locations monitored by Bowser Buster, the current top five cheapest and dearest locations for average prices as at close of business 25 May 2014 were:
Cheapest Regular Unleaded Petrol Cheapest Diesel
|Rank||Location||Average Price cents/litre||Rank||Location||Average Price
|1||Tweed Heads South||143.5||1||Sydney||155.3|
|3||Orange||148.2||3||Tweed Heads South||157.4|
Dearest Regular Unleaded Petrol Dearest Diesel
|Rank||Location||Average Price cents/litre||Rank||Location||Average Price cents/litre|
For full ranking list see http://www.mynrma.com.au/motoring/car-care/bowser-buster.htm
Over the past week, the average Mogas price rose 1.7 cents per litre, the average Terminal Gate Price rose 1.9 cents per litre while the Australian dollar fell 1.1 cents against the US dollar. Given these market forces, unleaded petrol should rise 2.5 cent per litre over the next price cycle.
Average regular unleaded prices in Sydney should range between 157 cents per litre (at the high point of the new price cycle) and 144 cents per litre (at the low point of the next price cycle).
The average price ranges for E10, Premium 95 and Premium 98 should be as follows:
- E10 – a high point of 155 cents per litre and a low point of 142 cents per litre.
- Premium 95 – a high point of 168 cents per litre and a low point of 155 cents per litre.
- Premium 98 – a high point of 173 cents per litre and a low point of 160 cents per litre.
Average diesel prices in Sydney should fall below 155 cents per litre this week.
Average LPG prices in Sydney are falling with the current average at 76.1 cents per litre. Average prices should fall below 76 cents per litre over the next week.
What are prices like in your area?