Petrol price hike Melbourne. Petrol prices appear to be hiking to 118.9. Update 135.9.

Yesterday I noticed a number of petrol stations around Melbourne had increased their unleaded price to 118.9. I couldn't help but wonder if this is the start of the price hike. It is hard to tell because the hike is around 20 cents per litre and I've not seen such a small hike before. Previously prices were hiking over 40-45 cents per litre and before that they regularly hiked around 25-30 cents per litre. To see such a relatively small hike is a bit perplexing. Why so small? I simply don't know.

The wholesale price (average gate price) in Melbourne yesterday was 97.2. The price was up to 97.7 on Wednesday after gradually increasing from the low 80 cent range.

If the price hike is occurring, I suspect the price will take a while to come through and may be in full swing by the end of next week.

In essence, it's time again to keep an eye on petrol prices.

One recent change from 7 Eleven I thought was interesting is you no longer need to have money on an account to lock in their fuel price for a week. This means anyone can now download the 7 Eleven Fuel app, sign up and lock in low prices for a week. Have two people in the family lock in prices at different times and there's no longer the stress of wondering if you have left locking in as long as possible. That certainly makes the 7 Eleven Fuel app even more useful. Now spending the remaining credit I have on the Fuel app isn't going to be easy, but 7 Eleven have stated they'll send information about transferring the money to a gift card so I can still use the remaining money.

Kelvin Eldridge

Petrol Prices Melbourne

Update: 3/06/2020

Today the new price hike appears to now be going up to 135.9 cents per litre. Because of the coming long weekend it's extra important to keep an eye on petrol prices. It's hard to say if there's going to be a quick increase across the board, or a slow and steady increase. The long weekend would normally mean prices would go up quickly across the board, but there's a high probability people may still not be going away, so the long weekend isn't that important to the petrol retailers at the moment. We'll soon see what the future brings.