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Highlights:
- Significant Price Differences: Perth emerges as the cheapest city for fuel at 181.4 cents per litre, while Canberra and Brisbane face the highest fuel prices, with averages of 196.3 and 195 cents per litre, respectively.
- Extended Petrol Price Cycles: Petrol price cycles in cities like Brisbane, Sydney, and Melbourne have lengthened significantly, with Queensland's cycle stretching up to 38 days, leaving fewer opportunities for consumers to secure cheaper fuel.
- ACCC Inquiry Call: The NRMA and Queensland’s Transport Minister have called for an investigation by the Australian Competition and Consumer Commission (ACCC) into potential price manipulation, highlighting the financial strain on Australian families.
Recent data from the National Roads and Motorists Association (NRMA) has highlighted concerning trends in Australian petrol pricing, with notable discrepancies across major cities. According to the NRMA survey, Perth is the least expensive capital city for fuel, with an average price of 181.4 cents per litre. On the other end of the spectrum, Canberra ranks as the most expensive, with drivers paying an average of 196.3 cents per litre. Brisbane follows closely behind, with an average price of 195 cents per litre, leaving local motorists paying a significant premium compared to their Western Australian counterparts.
In addition to the high prices, the NRMA survey points to a worrying extension of petrol price cycles. In Queensland, the Royal Automobile Club of Queensland (RACQ) revealed that the cycle now lasts up to 38 days, significantly longer than the seven-day cycle observed in Perth. This shift has made it more difficult for drivers in cities like Brisbane, Sydney, and Melbourne to access cheaper fuel, further exacerbating the ongoing cost-of-living pressures faced by Australian families.
The NRMA has urged the Federal Government to direct the Australian Competition and Consumer Commission (ACCC) to investigate the matter. Queensland's Transport Minister, Brent Mickelberg, has also voiced his support for an ACCC inquiry, stressing the need for long-term solutions while cautioning against actions that could lead to even higher prices. However, industry representatives, such as Mark McKenzie, CEO of the Australasian Convenience and Petroleum Marketers Association, argue that these prolonged cycles are a result of broader market dynamics and cost-of-living adjustments, rather than price manipulation.
With petrol prices and cost-of-living concerns continuing to dominate public discourse, all eyes will be on potential reforms in 2025, as consumers and policymakers alike await clarity on the future of fuel pricing in Australia.
