Weekly average Tapis (Asian crude) price rose 5.8 cents per litre (cpl) in $A.
The weekly average Singapore price of unleaded petrol, Mogas 95, which is the key petrol benchmark for Australia rose from US$ 20.87 to $US 21.90 a barrel this past week, equal to a rise of 0.9 cpl in $A.
However overnight the average price of tapis rose $US0.72 per barrel while Mogas fell $US 1 per barrel to $US 20.9 per barrel.
Global prices were erratic in limited Monday global oil trading. Over supply concerns continue to pressure crude prices, despite OPEC and its allies agreeing to cut production by 9.7 million barrels per day from May 1 - the largest output cut in history.
Australian motorists should see further fuel price falls in the order of 9-13 cents per litre over the coming 7-10 days.
Sydney Metropolitan Area
Sydney unleaded petrol average prices ( E10, Regular, Premium 95 and Premium 98 grades of fuel ) have fallen 9.9 pl this past week.
Average regular unleaded prices re now expected to fall towards 90 cents per litre in the coming 2 weeks.
Current average wholesale price for regular unleaded in Sydney is 85.5 cpl, up 1.4 cpl on last week.
Today is Day 26 of the new cycle. The last cycle was 34 days in duration, 3 days longer than the previous cycle.
Current average prices are as follows E10 – 100.7 cpl, Regular – 103.6 cpl, Premium 95 – 119.5 cpl and Premium 98 – 125.4 cpl.
Sydney’s average diesel price is 125.4 cpl, down 2.2 cpl this past week.
Average Sydney LPG price is 82.0 cpl, down 1.4 cpl this past week.
Central Coast, Newcastle and Wollongong
Last week average regular unleaded prices have fallen 4.0 in Wollongong, 5.9 cpl for the Central Coast and 6.9 cpl in Newcastle.
Over the past week average regular unleaded prices fell 3.8 cpl while diesel prices also fell 2.5 cpl. Over the past five weeks regular unleaded and diesel prices have now fallen 17.9 cpl and 14.0 cpl in regional NSW.
In the past week - most notable price movements in regional towns occurred as follows:
1. Regular Unleaded prices – rises nil.
2. Regular Unleaded prices – falls, Goulburn 8.5 cpl, Temora 9.2 cpl, Glen Innes and Maitland 9.7 cpl , and Leeton 14.1 cpl.
3. Diesel prices – rises, nil.
4. Diesel prices – falls, Dubbo 5.5 cpl, Cooma 6.0 cpl, Glen Innes 6.1 cpl, Buronga 7.0 cpl and Hay 7.7 cpl.
World Crude Oil Prices
Over the previous week:
* The average crude oil price rose 5.8 cents per litre; and
* Sydney’s Terminal Gate Price for regular unleaded rose 1.4 cents per litre to 85.5 cents per litre.
Sydney’s last price cycle lasted 34 days, 3 days shorter than previous cycle. Today is day 26 of the current price cycle, with the average price for regular unleaded fuel in Sydney at 103.6 cents per litre (Tuesday morning).
The most expensive point of the current cycle was Friday 20 March at 142.3 cents per litre for regular unleaded petrol. The highest prices for E10, Premium 95 and Premium 98 were 141.4, 161.1 and 164.7 cents per litre respectively.
Over the past week, the average Mogas price rose 0.9 cents per litre with the Australian dollar rising 1.4 cents to 62.1 cents against the US dollar. Average unleaded prices have fallen 9.5 cents per litre this past week, with 9-13 cents per litre falls now expected in the next 7-10 days.
Average regular unleaded prices in Sydney should range between 142 cents per litre (at the high point of the current cycle) and 90 cents per litre (at the low point of the current cycle).
The average price ranges for E10, Premium 95 and Premium 98 should be as follows:
E10 – a high point of 141 cents per litre and a low point of 88 cents per litre.
Premium 95 – a high point of 161 cents per litre and a low point of 108 cents per litre.
Premium 98 – a high point of 165 cents per litre and a low point of 112 cents per litre.
Sydney’s current average diesel price is 125.4 cents per litre – down 2.2 cents per litre this past week.
The current average LPG price in Sydney is 82.0 cents per litre – down 1.4 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.