South West petrol prices set to exceed $2 per litre
South West petrol prices will continue rising, according to the State’s fuel pricing watchdog, the halving of the fuel excise providing little relief for motorists before costs at the bowser will exceed $2 per litre.
The price hike further highlights the cost-of-living pressures being faced throughout the region, just days out from the Federal election.
South West motorists paid up to 210c/L at the pump on Wednesday, the region’s average price for ULP sitting at 188.8c/L.
FuelWatch issued an alert earlier this week, warning that metro retailers would be hiking their ULP prices from May 18, some chains increasing prices by nearly 50 cents per litre.
“Puma (are) hiking by up to 46c/L up to 219.7c/L,” the warning said, adding that Coles, BP, Caltex, Woolworths and Ampol prices would increase to 217.9c/L and 215.9c/L respectively.
FuelWatch manager Ben Delecki said while regional areas did not have the same fortnightly cycle as the city, the costs will flow on to the regions within weeks.
“Prices have been increasing in the South West since around the start of May and we expect they will continue to rise given the current global conditions,” Mr Delecki said.
“Fuel prices in regional areas can take up to four weeks to reflect what is happening in the metropolitan area.
“Increasing global demand for fuels which is not being matched by levels of supply and sanctions on Russian oil continuing to put pressure on global oil supply and availability are two of the major contributors to the price increases.”
On Wednesday, Bunbury motorists paid a maximum of 191.9c/L at the bowser, with an average of 188c/L.
In Busselton the average price of ULP was 187.8c/L, but with a high of 195.8c/L.
Harvey’s maximum was 194.9c/L and averaged at 185.4, while Augusta-Margaret River motorists paid a maximum of 200.2 and an average on par with Bunbury at 188.2c/L.
The highest price recorded in the South West on Wednesday was 210.0c/L at Walpole IGA Pioneer Store in the Shire of Manjimup.
Unfortunately, these prices will only increase in the coming weeks.
“Unfortunately it looks like high prices are here to stay for a little while so if consumers want to save money they should make use of the available resources,” Mr Delecki said.
“Spending 20 seconds on FuelWatch can locate the cheapest retailer in an area and if you check after 2.30pm you can see today’s and tomorrow’s prices and work out the best time to refill; use those shopper dockets at the cheapest locations if you can too.”
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