Petrol prices continue to fall but diesel remains high

Unleaded is back well under $2.00 per litre, but diesel is holding its price.

Petrol prices have been falling for four consecutive weeks, with the national average price for 95RON premium unleaded in the capital cities a nice round $2.00 per litre.

Before the consistent drop, it peaked at an average of $2.24 per litre, with the ACT as high as $2.36 per litre.

Drivers using 91RON will see a price that is an average $0.15 lower, with Sydney motorists now down to $1.69 per litre.

Bottom line, it’s good news for all petrol shoppers.

Diesel prices, however, remain comparatively higher across the board.

Where unleaded prices tend to fluctuate between states, diesel is reasonably aligned across the country. But where the average unleaded prices in Sydney (for example) have dropped around 20 per cent between June 1 and August 1, diesel has only reduced 10 per cent over the same period.

In mid June, diesel was priced lower than 95RON unleaded, but it is now at or above prices for 98RON.

This is largely due to a higher price paid for wholesale diesel, but according to data from the Australian Institute of Petroleum, the gap between current wholesale petrol and diesel is around 18 per cent, where the retail gap is over 23 per cent.

We’ll continue to watch diesel prices over the coming weeks to see if the prices reduce in line with petrol.

All fuel types are currently supported by the 22.1 cent fuel excise cut, which has 57 more days to run before it ends, and all prices increase by $0.22 on 28 September 2022.

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