Australian fuel prices have fallen for the fourth consecutive snapshot. The drops range from 5.7 cents in Melbourne to 8.4 cents in Brisbane, with Sydney squarely in the middle at 7.9 cents. (see the 17th April snapshot)
The reopening of the Strait of Hormuz, though described as “fragile”, has eased supply concerns. The fuel excise halving has now fully passed through to retail. The Australian dollar has strengthened against the USD, increasing our purchasing power for imported oil.
And domestic stockpiles are stabilising under the government’s fuel security plan. These factors working together have created a perfect downward pressure on prices.
Melbourne, Victoria
Current average: 200.6 (-5.7)
Melbourne’s west zone has done it again. Truganina’s Metro has dropped from 184.9 cents on Friday to 177.9 cents today. The south zone recorded the largest drop. The north zone also saw great improvement, dropping 8 cents. The east and south-east zones saw more modest drops of 3-4 cents, making them relatively more expensive.
| Zone | Price (ULP91) 17th Apr | Price (ULP91) 20th Apr | Suburb | Station |
|---|---|---|---|---|
| North | 197.9 | 189.9 | Broadmeadows (3047) | United Broadmeadows |
| West | 184.9 | 177.9 | Truganina (3029) | Metro Truganina |
| East | 199.9 | 195.9 | Lilydale (3140) | Reddy Express |
| South-East | 197.7 | 194.7 | Moorabbin Airport (3194) | Costco Moorabbin |
| South | 195.5 | 185.5 | Seaford (3198) | Fuel Zone |
| City & Inner | 195.3 | 190.3 | Kingsville (3012) | Burk Kingsville |
Also read: Used EV market surges in Australia as fuel prices spike
Sydney, New South Wales
Current average: 196.4 (-7.9)
Sydney’s fuel market has seen the largest average drop of any capital this week, falling 7.9 cents. The west zone has broken through the 185-cent barrier for the first time. The west and south-west zones recorded the largest drops at 14 cents each. The northern beaches and city and east zones, traditionally Sydney’s most expensive, both saw strong drops of 7-10 cents. The south and St George zone was the laggard, with only a 4-cent drop.
Every Sydney zone is now below 196 cents for the first time in this series. The gap between the cheapest and most expensive zone has narrowed to just 15 cents, down from nearly 26 cents three weeks ago.
| Zone | Price (ULP91) 17th Apr | Price (ULP91) 20th Apr | Suburb | Station |
|---|---|---|---|---|
| West | 194.5 | 180.5 | Guildford (2161) | Supreme Petroleum |
| North-West | 195.5 | 185.9 | Carlingford (2118) | U-GO Carlingford |
| Northern Beaches and North Shore | 200.9 | 193.9 | Forestville (2087) | Metro Frenchs Forest |
| City & East | 201.9 | 191.9 | Rozelle (2039) | U-GO Rozelle |
| South-West | 203.9 | 189.9 | Casula (2570) | Speedway Casula |
| South and St George | 199.9 | 195.9 | Taren Point (2229) | Reddy Express Captain Cook |
Brisbane, Queensland
Current average: 196.6 (-8.4)
Brisbane’s oil market has seen the second-largest average drop of any capital, falling 8.4 cents. The city and near zone continue to lead, though their advantage has narrowed. The west zone recorded the largest drop. The east and bayside zone also saw strong improvement, dropping 11 cents.
The city and near zone, which has led Brisbane for weeks, saw only a modest 4-cent drop. The north and south zones saw modest improvements of 5-6 cents.
Bracken Ridge’s U-GO has appeared on our cheapest list for six consecutive snapshots. This is the longest run of any station in any capital.
| Zone | Price (ULP91) 17th Apr | Price (ULP91) 20th Apr | Suburb | Station |
|---|---|---|---|---|
| North | 198.5 | 192.9 | Bracken Ridge (4017) | U-GO Bracken Ridge |
| South | 197.9 | 192.5 | Acacia Ridge North (4110) | Pearl Energy |
| West | 203.5 | 191.5 | Oxley (4075) | Liberty Oxley |
| Ipswich Corridor | 199.4 | 191.5 | Booval (4304) | Caltex Booval |
| East & Bayside | 203.9 | 192.9 | Cleveland (4157) | U-GO Cleveland |
| City & Near | 193.9 | 189.9 | Red Hill (4059) | Quill Petroleum |
Final thoughts
The decline continues, but lurking beneath this good news are the same risks. The Strait of Hormuz opening is fragile. The excise cut expires on 30 June. The Geelong refinery fire from April 15 hasn’t yet fully impacted retail prices, which could come in the next 1-2 weeks. The window of low prices is open, but windows have a habit of closing when you least expect them.
And a final note to the stations that have appeared on our cheapest list for six consecutive snapshots: Bracken Ridge’s U-GO. That’s a record in this series. Drivers on Brisbane’s north side know who to thank.
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