Australian Fuel Prices Jump 41.4 Cents a Litre as Excise Returns and Global Costs Rise

3 articles · Updated · IndexBox, Inc. · Jul 24

By July 22, average retail prices in Australia’s five largest cities had climbed 28.0 cents a litre for petrol to 179.5 cpl and 41.4 cpl for diesel to 214.9 cpl, the ACCC said.
A 16 cpl partial fuel-excise restoration from July 1 added up to 17.6 cpl including GST, while international refined fuel prices also rose sharply, lifting wholesale petrol by as much as 26.2 cpl and diesel by 51.1 cpl since June 30.
Across the eight capitals, petrol increases ranged from 20.4 cpl in Hobart to 36.5 cpl in Perth, while diesel rose 24.4 cpl to 43.1 cpl; regional prices also surged, with 94% of monitored locations posting diesel increases above 17.6 cpl.
International pressure remains the broader driver: refined petrol prices were about 10.0 Australian cpl above June 30 levels and diesel about 34.0 cpl higher, amid renewed US-Iran attacks, a US naval blockade on Iran and other supply disruptions.

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