Average regular unleaded petrol prices across Australia's five largest cities fell 13.5 cents a litre in a week, to 219.2 cents a litre on 11 November, according to the ACCC's weekly fuel report released on 13 November. Diesel also fell, but the five-city average remained above 266 cents a litre, at 266.4 cents — a drop of 9.4 cents on the previous week.
The five-city average covers Sydney, Melbourne, Brisbane, Adelaide and Perth. Petrol and diesel prices fell in every capital city. Adelaide had the cheapest petrol of the eight capitals on 11 November, at 214.5 cents a litre, just ahead of Perth at 214.6 cents. Darwin was the dearest, at 239.7 cents. Perth recorded the largest weekly petrol fall, down 16.9 cents, although the ACCC noted some Perth retailers raised prices again on Wednesday 11 November as part of that city's usual weekly cycle. Average petrol in Perth was 9.0 cents cheaper on Tuesday 10 November (205.6 cents) than on the Wednesday (214.6 cents).
City (11 November) | Petrol (cents/L) | Weekly change | Diesel (cents/L) | Weekly change |
|---|---|---|---|---|
Sydney | 221.7 | −12.8 | 268.7 | −8.6 |
Melbourne | 221.8 | −13.6 | 269.2 | −8.9 |
Brisbane | 223.3 | −12.7 | 271.0 | −9.6 |
Adelaide | 214.5 | −11.8 | 262.6 | −11.1 |
Perth | 214.6 | −16.9 | 260.4 | −8.8 |
Canberra | 237.4 | −9.7 | 280.6 | −6.9 |
Hobart | 235.7 | −8.5 | 276.3 | −6.9 |
Darwin | 239.7 | −3.7 | 280.3 | −3.4 |
Five-city average | 219.2 | −13.5 | 266.4 | −9.4 |
Regional prices remain higher. Across more than 190 locations the ACCC monitors, the average on 11 November was 236.9 cents a litre for petrol, down 7.9 cents, and 276.0 cents for diesel, down 6.5 cents. Among the eight capitals, Canberra had the dearest diesel, at 280.6 cents, and Perth the cheapest, at 260.4 cents. Adelaide posted the largest weekly diesel fall, down 11.1 cents.
The ACCC says retail prices largely follow international refined fuel benchmarks, which eased over the week. The Singapore Mogas 95 petrol benchmark averaged about 99 cents a litre in the week to 11 November, down 16 cents, while the Gasoil 10 ppm diesel benchmark averaged about 144 cents, down 8 cents. Average wholesale (terminal gate) petrol prices across the five largest cities fell 19.8 cents to 200.7 cents a litre.
Even after the fall, petrol across those five cities was still 48.3 cents a litre dearer than on 20 February, about a week before the conflict between the United States, Israel and Iran escalated, and 38.0 cents cheaper than on 31 March, when prices were around their peak. Diesel remains further above its pre-conflict level, at 89.8 cents a litre higher than on 20 February. The ACCC encourages drivers to compare prices with a fuel app before filling up. For earlier coverage of high diesel prices, see our report on Australia ruling out Russian diesel when pumps were near $2.83 a litre, and our petrol vs hybrid vs electric running-cost guide if you are weighing a change of car.