Sydney Fuel Price Skyrocketing This Week

athuntershill on 01/07/2021 - 13:27

Why is the price of fuel so much higher this week?

I had 1/2 tank left on the weekend and thought maybe it would become cheaper as the lockdown kick in.

To my surprise, the price of E10 have gone from $1.29 to $1.79 here at Galesville.

What the rationale? Was not aware of supply issue overseas. Is this just the retailers price gauging commuters?

Same can be said about (NSW) regional accommodations. I am all for supporting the local communities but not at 2x or 3x the normal price. Part of me think this latest lockdown is a bit of karma for them.

Automotive Fuel

Comments

    • HeWhoKnows on 02/07/2021 - 10:24

      Not its not. See my post below

      • turbochris on 02/07/2021 - 12:10

        The OP was asking about the sudden rise in their local area which is due to the regular Sydney price cycle.

        Pricing for most servos is controlled centrally not locally.

        Those points you mentioned are relevant to the long term fuel price trend - (of which only points 3 and 4 are major factors if you read the ACCCs report I linked). You did read it right? Being an amazing researcher and all?

        • vengeance88 on 02/07/2021 - 12:20
          +1

          This. It's the normal cycle. I've been filling up once a month at the low point and it was set to go up in the last few days.

          The cycle doesn't explain why the price is $1.70 but it explains the sudden jump.

  • HeWhoKnows on 02/07/2021 - 09:47
    +6

    For all here that amazingly don't know how to do any research on the topic

    4 things affect local petrol prices

    1. Local competition of which most of you are aware - this explains the weekly/fortnightly fluctuations in price

    2. Local demand. This collapsed last year through the COVID19 pandemic and long lock downs thus significantly reducing demand for fuel as nobody was travelling anywhere far. I bought petrol for as low as 84c at the time.

    3. The international price of crude oil…..
      Late last year crude oil was trading at $US40 per barrel (it actually went lower)
      Today it is trading at $US75 per barrel - Double what it was trading at its low last year.
      This alone explains the persistently higher and higher petrol prices

    4. The price of AUD vs USD…
      But also the AUD has climbed from 72c since late last year to 80c on February 2021 thus partially insulating us from this mammoth rise in crude oil prices.
      However since February the AUD has been trending down again sitting at about 74.6c today.thus making imported crude more expensive and hence pushing up fuel prices again

    I trust this helps explain the BIG picture and upward trend fuel prices

    • MontyMacaw on 02/07/2021 - 16:23

      THIS👆👆👆👆👆👆👆is the right answer. Combine the increase in the price of oil into the fuel price cycle of roughly 30c up and down and add in the lower value of the Australian Dollar and you are lucky it is not over $2.
      The last cycle was from the high $1.20’s to the mid $1.60’s so the increase is only about 15c a litre.

      So much whinging and assuming you are being taken for a ride - yes that was a pun - does not explain everything we don’t like - but sometimes maybe 😜 Probably the whingers are the ones buying Doge coin that keep making millions of new coins all by itself meaning there is an endless supply. How does buying Doge coin equate to investing???

  • hueylewis on 02/07/2021 - 10:22
    +5

    Inflation is getting worse. And if you think the price of fuel is high now, wait until the oil producing countries start to monetize their reserves to compensate for reduced demand due to internal combustion engines being phased out.

    • HeWhoKnows on 02/07/2021 - 10:27
      +4

      Yes the actual REAL inflation rate is being downplayed to justify these ridiculously low interest rates.
      Everyone can see prices rising well over the published 2%.

      Commodity prices including oil prices are going through the roof.
      This is slowly pushing through to RETAIL price inflation

      You can see this playing out in the US right now.
      They are experiencing the highest inflation over the last 10 years

      And the Fed is labeling this transitory inflation.
      More lies and deceit from the US Fed.

  • Darayus on 02/07/2021 - 10:34

    My family everyone has 711 app and based on fuelspy app we determined which 711 fuel station is the cheapest in the range of 40KM. When travelling close to that suburb we just get our price lock to activate and lock up the price. This method has really assisted us to lock our best price for the start of the week. In case the price has dropped further than what it was locked then another member will lock up the price when required and so we maximized the cheapest price available during that time. Also, 711 browser are very accurate and I happy to pay some more cents than private or Costco

    I have a Costco card but I am not happy with their browser dispensing as they always dispense more than 10 to 15% than what your vehicle can fill and so I found no savings. I had drawn their attention by writing an email to them but they refused to accept this and hence I have stopped visiting Costco as saving is superficial.

    Can OB members confirm my observation on Costco browser dispensation, had they too experience this discrepancy.

    • Moral hazard on 04/07/2021 - 22:04
      +4

      Costco only charges for what you filled, not sure what you are talking about.

      You select an amount more than your tank holds and stop pumping when your tank is full.

      Your card gets charged only for the amount you actually pumped.

      Get a receipt when pumping and check.

      • Darayus on 05/07/2021 - 10:44
        -4

        your vehicle shows how much you have consumed from one top up to another.

        Costco browser always dispense much more then what your car has consumed, means they charge more then what actually delivered, means you are paying more then fuel you buy.

        I know its weird but you can check as all modern cars gives fuel consumption till you reset everytime you top them up.

        • Munki on 05/07/2021 - 13:19
          +2

          I highly doubt this to be the case. Those fuel gauges aren't all that accurate either.

          • Moral hazard on 05/07/2021 - 13:25

            @Munki: Yeah those aren't accurate.

            Better do your own tests, fill tank completely and see how many KM you drive till fuel warning comes on.

            Do this 10 times. Take an average.

            Then do the same 10 times with fuel from another station, compare this average with the one above.

  • Ironh59 on 02/07/2021 - 11:39
    +7

    Tips to save:

    1. Fuel Check app, run by NSW government. Every fuel station has to update their prices within 30 minutes of changing it.

    2. 7-eleven fuel lock. There is a app (ElevenMe) to find out the cheapest 7-eleven fuel in Australia. Then use GPS spoofing tool like ifakelocation (for iOS) to fly there and lock the price. It is easy to use and doesn't require jailbreak. This helps me save at least $500 a year.

    • Poor Ass on 02/07/2021 - 13:58

      shhhhhhhhhh

    • jrjr on 02/07/2021 - 15:48

      Before someone asks, there's no easy way to do it on android but a cheap second hand iphone can be found for far less than $500

      • Binchicken22 on 03/07/2021 - 09:18
        +1

        If you are even just a little bit tech savvy it isn't that hard to setup on Android. I used an old nexus 5 I had laying in a drawer, cost $0.

        But yeah I do find it unusual that the apple devices are easier to "hack" for this use than androids, kind of weird.

        • Ironh59 on 03/07/2021 - 18:14

          It takes some time to do it on android, but there is lot of help available online. However if the 7-Eleven app detects the root, it will stop working.

      • iamnotafish on 04/07/2021 - 00:05

        If you can read and follow instructions, then it's really not that hard. But I get that plenty of people can't do either or both of those things.

  • Big Lenny on 02/07/2021 - 14:00
    -1

    so glad I sold my car earlier this year, basically got what i paid for it in 2018

    no longer have a depreciating asset that hardly gets used, no need for rego, insurance, petrol

  • lawyerz on 02/07/2021 - 14:15

    https://projectzerothree.info/

    As with others above. 7-Eleven lock gps spoofer with rooted android phone will save you heaps of money. Getting it up and running may take some work but after that it's all breezy.

    The website above will show you the cheapest 7-11 petrol in your state/country to lock to.

    • Ironh59 on 02/07/2021 - 15:20

      ElevenMe app also does that

    • cwongtech on 04/07/2021 - 01:54
      +1

      https://refinery.fyi/

      Is made by Vu (of OzBargain)

      All are good source

      ElevenMe's creator was penalty binned from OzBargain due to code of conduct breach (account is now "deleted", which would have been a request from the account owner)

    • ATangk on 05/07/2021 - 16:54

      Does the bluestacks thing still work?

  • xylarr on 02/07/2021 - 16:11
    +4

    Go electric.

    Petrol: 7L/100km @ $1.79/L = $12.53/100km
    Electric: 15kWh/100km @ 25c/kWh = $3.75

    or if you get cheap electricity overnight and charge at home
    Electric: 15kWh/100km @ 11c/kWh = $1.65/100km - this is what I do.

    Even with an EV tax at 2.5c/km is an additional $2.50 to the electric car running costs and it's still cheaper.

    I mean, you can make electricity not worth it if you have an inefficient vehicle, use expensive public fast charging (supercharger) and have to pay EV tax
    22kWh/100km @ 52c/kWh + $2.50 tax = $13.94
    But it's tight.

    • Binchicken22 on 03/07/2021 - 09:21
      +6

      You've used basically the highest possible price for 91 unleashed, rather than an average of probably $1.40… or if you are an ozbargainer and use the 7-11 app you always pay between $1.20 to $1.25.

      Obviously running costs will still be cheaper for electric vehicles but they are still a lot more expensive to buy to begin with.

    • PTS on 03/07/2021 - 10:24

      I think a couple of significant things here are that.

      A. You're not reliant on overseas import of Oil / Petrol and the fluctuations that happen during wars / ships getting stuck etc. Even though the Eastern states are typically 80% coal powered (and that % is falling), at least the coal is australian.

      B. You can make your fuel at home. Or charge on off peak for ~10c/kWh.

      Price parity for ICE (internal combustion engine) and EV is predicted to come in the next 2 - 5 years. Not long really

      • Binchicken22 on 03/07/2021 - 18:47
        +4

        Price parity in the next two years? No way… Next 5 years… I seriously doubt that too, not unless the government steps in with some serious EV subsidies and/or ICE taxes.

        Hybrids are probably the best bang for buck for most people for the next 10 years I would say… Eventually EVs will get there, I'm not some ICE fanboy that's in denial, but no way will you buy an EV equivalents across the market range within 2-5 years for price parity with ICE examples.

    • lawyerz on 04/07/2021 - 10:31

      Ev upfront costs are substantial. I want a Tesla for my next car but the cheapest model 3 is 70k.

      Meanwhile I bought my second hand 2yr old Nissan altima for $15k

  • daddydirtsurfer on 02/07/2021 - 18:01
    -3

    I don't know why people keep buying fossil cars.

    Why our govt is so slow on changing the car industry.

    I am waiting for elecrtic cars to go cheaper when we have competitions.

    • MontyMacaw on 03/07/2021 - 02:25
      +2

      Politics. The answer is politics.

    • CouthonJ on 03/07/2021 - 17:43
      +1

      Because plebs like us can't afford EV. Even Chinese EV from Mao's Garage is sold for $45,000-ish. Hell, EV drivers are penalized in Victoria with EV taxes so why bother buying EV when ICE cars are relatively cheaply available?

  • Miss B on 02/07/2021 - 18:20

    In Melbourne. Saw fuel at $1.31 on one side of the road and $1.75 on the other on Monday, so I locked in 7-11 at $127.9

  • [Deactivated] on 02/07/2021 - 19:41

    Checked petrol prices in other countries, they are rising too.

  • PhatChedda on 02/07/2021 - 20:42

    I bought BP Ultimate 98 for 1.63c last night

  • BestofOZB on 02/07/2021 - 20:50

    $2.2 for 91 in NZ right now. You're doing fine bro.

  • dannyboi on 03/07/2021 - 10:05
    +1

    Been using Costco Fuels for the past year or so and that has worked well, even with the membership cost.

    With a difference of around 30c on average, you end up breaking even after a couple of tanks and then saving after that.

    As others have suggested, the FuelCheck app is the way to go.

    • popsiee on 03/07/2021 - 10:36

      Costco can't get close to Woolies/Calex 8 cents off coupon a litre ( $30 instore purchase ) with $6 instore purchase using 4% off Wish cards . Makes it about 10% cheaper overall than price seen . So my last purchase was 122.9 down to around 110 .

      • archiexyz on 03/07/2021 - 14:24

        where are you getting 4% off wish these days?

      • Fobsessive on 05/07/2021 - 10:28

        What do you purchase in store? Isn't it all overpriced?

    • [Deactivated] on 05/07/2021 - 11:39

      I agree, everytime fuel goes up Costco' is like 30c less a L.

  • mousie on 03/07/2021 - 11:11

    People are in Lockdown so may be scared to travel out of area for fuel savings so it's local for local fuelling being insensitive to the price.

    • Cyphar on 03/07/2021 - 21:49
      +1

      Here in VIC, fuel prices bottomed during lockdown and then skyrocketted on the day it ended as people were eager to get out

      • mousie on 04/07/2021 - 14:39

        I filled up at Costco for $0.79 a litre for to 98 last year @ 1980s prices and not in a Delorean…

        It's nuts.

    • psylence on 04/07/2021 - 14:29

      No its highest oil price since 2018 and us dollar bounce back. Domestic features doesn't have much impact.

  • beefmaster on 03/07/2021 - 12:46

    Saudi prince need to buy his fleet of Rolls Royce.

    long ago petrol price was a weekly cycle where the lowest is on Tuesday. Then everyone refill on Tuesday so the petrol company change it to 2 week cycle, but pandemic hit so many people drive less and able to meet and refill at the 2 week cycle. Now the cycle is one month. Check the graph in the link.

    https://www.accc.gov.au/consumers/petrol-diesel-lpg/petrol-p…

    I always wonder why people (government) is able to tolerate the petroleum company collusion. Are we a society that is contempt and willing to just bend over for the rich?

  • gimli on 03/07/2021 - 15:39
    +1

    good ole 7-11 app hack
    finally got it to work and locked in 1.24

  • CouthonJ on 03/07/2021 - 17:37
    +2

    Just fill up my car at Costco with U98 @ $1.42 per litre. I save $20. Usually I don't bother travelling all the way to Costco if It is only for fuel, but today it was different. The fuel prices are insane at the moment.

  • [Deactivated] on 03/07/2021 - 19:03

    Do not ever get fuel, or anything from OTR ( On the run). These criminals ruined fuel in SA.

    • FocusRider on 05/07/2021 - 14:10

      Don't buy fuel from United either.

  • berry580 on 03/07/2021 - 20:04
    +1

    1.29c to 1.79c isn't 2x 3x normal price.

  • Cyphar on 03/07/2021 - 21:47
    +1

    Wholesale price is at a record high right now too so prices aren't going to drop. They are only going to get worse. I wouldn't be surprised to see $1.99/L in the next few weeks.

    • cwongtech on 03/07/2021 - 23:23

      https://projectzerothree.info/trends.php

      Shows TGP as well

      They're not high enough to justify a 25~33% increase..

      • gimli on 04/07/2021 - 16:26
        +1

        hey cwongtech,
        Was going to post on price watch thread.

        Your tips re getting the hack to work on a old android phone were very helpful!

        Thanks!

  • Mizorex on 04/07/2021 - 10:22

    school holidays lol

  • centrelink on 04/07/2021 - 12:55

    WHat is the App/Website to find the cheapest fuel so I can spoof to that location and lock in?

  • psylence on 04/07/2021 - 14:28
    +1

    Oil price is the highest it's been since 2018 and it is going to go to $100/barrell

  • vinster55 on 04/07/2021 - 14:58

    Filled up at my local 7 Eleven yesterday. (postcode : 3806)
    Its $1.94 for Premium 98. Luckily I had price locked the week prior for $1.45.

  • USER DC on 04/07/2021 - 15:10

    Same everywhere man in Adelaide too prices are sky rocketting i think these greedy companies need a solid shut down full on lockdown, and a all time low demand.
    Then they'll learn, or more honestly feel the blunt because these greedy companies open all the time with or without lockdown, can never learn and be kind to people.

    They'll remain greedy all the time.

    People need to learn boycotting those gas stations.

    • serpserpserp on 04/07/2021 - 15:35

      You can't boycott every petrol station. Prices are up everywhere and I need petrol.

  • serpserpserp on 04/07/2021 - 15:34

    1.89 in Melbourne this morning got U95. Crazy prices

  • Ryk on 04/07/2021 - 21:37

    with 7-Eleven lock I saved $28 today, lock for 131.9 from last week, U98 bowser price 195.9, 44 litres.

  • Big Lenny on 05/07/2021 - 11:52

    it will hit $100/barrel

    even 7/11 app wont help you much then

  • Trioboy on 05/07/2021 - 14:32
    +1

    inflation…..

  • Zachary on 29/07/2021 - 12:36

    get an empty 200L drum, go to petrol station, fill that all the way up, bring home and use that when the prices are too high to fill at petrol station. then top drum up when fuel prices go down again, rinse and repeat. maybe get two, three or four 200L drums and put them on a pallet and drive a forklift to it and use that carry the drums towards petrol station to fill up?

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