A couple of days ago I noticed a couple of petrol stations around Melbourne had increased their prices to 167.9. Today some of those petrol stations have dropped their price to 166.9.
The current average gate price (think wholesale) of unleaded petrol is 129.5 so we're seeing a price increase of 35-40 cents. This price hike range has now occurred for the last few price hikes which is higher than the 25-30 cent price hike seen over the past few years.
The media has also reported the drone bombing of Saudi Arabia's biggest oil plant and it's been suggested prices may go up as a result. Prices were already on their way up before the bombing occurred so this may add additional pressure to oil prices.
How quickly petrol prices will rise is hard to tell as we approach the next school holiday period, since it's still around two weeks away.
Time to keep on eye on petrol prices over the coming week to two weeks.
Kelvin Eldridge
Petrol Prices Melbourne
www.PetrolPricesMelbourne.com.au
The current average gate price (think wholesale) of unleaded petrol is 129.5 so we're seeing a price increase of 35-40 cents. This price hike range has now occurred for the last few price hikes which is higher than the 25-30 cent price hike seen over the past few years.
The media has also reported the drone bombing of Saudi Arabia's biggest oil plant and it's been suggested prices may go up as a result. Prices were already on their way up before the bombing occurred so this may add additional pressure to oil prices.
How quickly petrol prices will rise is hard to tell as we approach the next school holiday period, since it's still around two weeks away.
Time to keep on eye on petrol prices over the coming week to two weeks.
Kelvin Eldridge
Petrol Prices Melbourne
www.PetrolPricesMelbourne.com.au
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