World Crude Oil Prices
Over the previous week:
- the average crude oil price rose 0.4 cents per litre; and
- Sydney’s Terminal Gate Price for unleaded fell 0.3 cents per litre to 141.7 cents per litre.
Sydney’s most recent price cycle was 21 days – same as the previous cycle. Today is day 15 of the current cycle, with the current average price for regular unleaded petrol in Sydney at 141.6 cents per litre (Tuesday afternoon). Average prices are nearing the bottom of the price cycle at 141 cents per litre and are expected to rise shortly (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/litre)|
|Regular Unleaded Petrol||Diesel|
|Region||Week Ending 18 May||Week Ending 11 May||Difference||Week Ending 18 May||Week Ending 11 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 18 May 2014 were:
Cheapest Regular Unleaded Petrol Cheapest Diesel
|2||Tweed Heads South||145.7||2||Tweed Heads South||157.4|
Dearest Regular Unleaded Petrol Dearest Diesel
Over the past week, the average Mogas price rose 1.6 cents per litre, the average Terminal Gate price fell 0.3 cents per litre while the Australian dollar fell 0.1 cents against the US dollar. Given these market forces, unleaded petrol prices should rise 1 cent per litre over the next price cycle.
Average regular unleaded prices in Sydney should range between 141 cents per litre (at the low point of the current price cycle) and 157 cents per litre (at the high point of the next price cycle)
The average price ranges for E10, Premium 95 and Premium 98 should be as follows:
- E10 – a low point of 139 cents per litre and a high point of 155 cents per litre
- Premium 95 – a low point of 152 cents per litre and a high point of 168 cents per litre
- Premium 98 – a low point of 157 cents per litre and a high point of 173 cents per litre.
Average diesel prices in Sydney should fall to 154 cents per litre this week.
Average LPG prices in Sydney are falling with the current average at 76.3 cents per litre. Average prices should fall below 76 cents per litre over the next week.
How are fuel prices in your area?