By Brendan Rees
Motorists have been left reeling after facing the brunt of sky-rocketing petrol prices across Casey, which hit a four-year high last week, stretching the household budgets of families.
Increased oil price has affected the wholesale price of refined petrol which has had a flow-on effect at the pump, according to RACV vehicle engineering manager Michael Case.
“Fuel is essential; an increase hurts family budgets and contributes to the cost of living. It’s up the industry to justify current pricing,” he said.
According to petrolspy.com, United service station on the South Gippsland Highway in Cranbourne had unleaded fuel at 165.7c a litre on Friday 27 September, while Shell on the Western Port Highway in Lynbrook was 167.9c, and BP on Berwick-Clyde Road, Berwick also at 167.9c.
Drivers filling up at Coles Express on Berwick-Cranbourne Road, Clyde North were stung at extra 10 cents a litre for unleaded fuel (167.9c), compared to Coles Express on Sladen Street, Cranbourne (157.9c), which is less than seven kilometres away.
Cranbourne resident and builder Ash Banks said he was considering selling his car due to the price spike, who currently travels to Burnside and Doreen for work.
“It ends up costing a $135-$140 a tank, it’s an absolute rip-off,” he said.
He said he filled up his sports Ford ute with premium fuel at the 7-Eleven on Evan Road in Cranbourne on Friday 27 September at 1.83c a litre.
“It’s been steadily going up, it hasn’t come back down,” Mr Banks said.
“I’m spending close to $200 a week in fuel. The price of living is ridiculous at the moment. You start living to work not working to live.”
CommSec senior economist Ryan Felsman said there was little relief from the petrol pain.
“CommSec estimates that monthly household spending on petrol, assuming the purchase of 40 litres of petrol per week, is at four-month highs of $244.48,” he said.
Fuel prices in Melbourne last week hit 167.9 cents a litre and averaged a four-year high, just as the school holidays began.
According to independent price monitor, MotorMouth, unleaded petrol prices were $1.55-$1.60 a litre in most suburbs.
“The major factors driving higher prices were an increase in international crude oil and refined petrol prices, and a lower AUD-USD exchange rate,” ACCC Chair Rod Sims said in a media statement last month.
“A weaker Aussie dollar has also increased costs for wholesalers buying petrol for the Australian market, which flows through to consumers who pay for this at the pump,” Mr Sims said.
According to the Australian Institute of Petroleum, the national average Australian price of unleaded petrol rose by 0.6 cents to a four-month high of 152.8 cents a litre. Prices were up 21.7 per cent over the year to September 23.
