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Petrol prices leap again

September 15, 2023 7:29 am in by
Image: Gustavo Fring

The price of petrol has begun to rise in Geelong, with experts warning drivers not to expect relief this side of Christmas.

Service stations in Geelong and Wyndham were selling unleaded for as high as $2.30 per litre on Friday morning, an overnight increase of up to 37 cents.

The Ampol outlet on Melbourne Road in North Geelong, known for selling fuel at discounted prices, increased its price from $1.93 to $2.15 on Thursday night.

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NRMA spokesman Peter Khoury said oil producing nations are deliberately throttling supply, driving retail prices up.

“They’ve already said they’re going to with-hold production to the levels they have been until at least the end of the year,” he said.

“So it’s just not good news, particularly for families heading into Christmas.”

Economists say high demand and the weak Australian dollar are also playing a role in driving fuel prices higher.

Rising petrol prices are also making it harder for the Reserve Bank to bring down the inflation rate.

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