Summary 30 September 2019
1. Continued uncertainty that the US can conclude a trade deal with China.
2. Political uncertainty in the US weighed on investor sentiment.
3. Weaker-than-expected US economic data also weighed on oil prices
World Crude Oil Prices
Over the previous week:
Sydney’s last price cycle lasted 28 days, 2 days shorter than the previous cycle. Today is day 19 of the price cycle, with the average price for regular unleaded fuel in Sydney at 154.4 cents per litre (Monday morning).
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 166 cents per litre (at the high point of the new cycle) and 138 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 high point of 164 cents per litre and a low point of 136 cents per litre.
Premium 95 - a high point of 180 cents per litre and a low point of 152 cents per litre.
Premium 98 - a high point of 187 cents per litre and a low point of 159 cents per litre.
Sydney’s current average diesel price is 149.0 cents per litre – up 2.1 cents per litre this past week.
The current average LPG price in Sydney is 76.2 cents per litre – down 012 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.