Summary 08 October 2019
- Soft US economic data and weaker equities markets also weighed on sentiment in energy mark
- Weaker US manufacturing survey raised fears on the global economy and the outlook for oil demand
World Crude Oil Prices
Over the previous week:
Sydney’s last price cycle lasted 20 days, 8 days shorter than the previous cycle. Today is day 7 of the price cycle, with the average price for regular unleaded fuel in Sydney at 151.4 cents per litre (Tuesday morning). The most expensive point of the current cycle was Wednesday 2 October at 163.1 cents per litre for regular unleaded petrol. The highest prices for E10, Premium 95 and Premium 98 were 162.0, 180.9 and 185.6 cents per litre respectively.
Over the past week, the average Mogas price fell 3.2 cents per litre with the Australian dollar falling 0.4 cents to 67.6 cents against the US dollar. With prices rising to the top of the new cycle in the Sydney market, average unleaded petrol prices are expected topeak at 166 cpl this week.
Average regular unleaded prices in Sydney should range between 135 cents per litre (at the low point of the current cycle) and 161 cents per litre (at the high point of the new cycle).
The average price ranges for E10, Premium 95 and Premium 98 should be as follows*:
E10 – a low point of 133 cents per litre and a high point of 159 cents per litre.
Premium 95 – a low point of 151 cents per litre and a high point of 179 cents per litre.
Premium 98 – a low point of 157 cents per litre and a high point of 185 cents per litre.
Sydney’s current average diesel price is 149.2 cents per litre – up 0.2 cents per litre this past week.
The current average LPG price in Sydney is 76.6 cents per litre – up 0.4 cents per litre this past week.
*Forecast estimates only, we recommend using the fuel search in the my nrma app to compare fuel prices in real-time.
NRMA produces a weekly fuel report to help Members be better informed on petrol prices and the fuel cycle to help with savings at the bowser. The NRMA Member exclusive my nrma app also has fuel finder functionality comparing the price of fuel in the NSW searched area.