Wellington motorists have been warned to get used to three-year high petrol prices, with the cost of regular unleaded climbing above the $1.40 per litre mark.
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But they’re not alone, with regional centres across Australia also experiencing prices over $1.40/litre, and even cyclical markets (the major cities) facing prices of almost $1.50/litre during peak times.
As of Tuesday Wellington’s average price was $139.5, well down on Dubbo’s average price of $1.46, Bathurst’s $1.47 and Orange at $1.41.
NRMA spokesperson Peter Khoury said everyone was suffering, with $1.40 prices consistent across regional Australia. He said global factors were to blame.
“Unfortunately this is the reality that we’re facing, in the short term at least,” Mr Khoury said.
“Tensions in the Middle East, talk of sanctions against Iran and Russia, which are both oil-producing countries, and cuts to supply from OPEC (Organisation of Petroleum Exporting Countries) which are all leading to three-year highs.”
Petrol prices varied around Wellington on Tuesday, with regular unleaded petrol peaking at 141.9 cents per litre and a low of 135.9 cents/litre.
Mr Khoury was concerned by a “quite high” gap between the retail and wholesale prices, and urged motorists to shop around using the NRMA app.
“It’s just under $1.29, the wholesale price, then you add the cost of transporting it … there’s a healthy gap between the wholesale price and the retail price in regional areas and we’d certainly like to see that close a bit,” he said.
“What goes up inevitably has to come down, but unfortunately the factors that are determining them are out of our control.
“They’re global.”