In short:
Fuel prices are rising across Australia as escalating conflict in the Middle East puts pressure on global oil supplies. Car-dependent Wyndham residents could be particularly affected as petrol and diesel prices climb.
More Global Instability Influences Prices
Motorists are being hit with another sharp rise in fuel prices as conflict in the Middle East puts pressure on global oil supplies.
The Australian Competition and Consumer Commission’s latest fuel monitoring report, released on 11 September, found average retail petrol and diesel prices increased across most locations over the past week.
The ACCC said the increases were being driven by higher international refined fuel benchmark prices, with Brent crude finishing above US$104 a barrel on 11 September after gaining more than eight per cent across the week.
Disruption to major oil supplies and shipping routes, including through the Strait of Hormuz, as well as attacks on tankers and energy infrastructure, have added further pressure to global supply.
For motorists in Wyndham, another sustained increase at the bowser could hit particularly hard.
The growing municipality remains heavily car-dependent, with many residents relying on their vehicles for work and everyday travel across Melbourne’s west.
The latest increase also comes after the temporary federal fuel excise cut ended at midnight on 3 August, restoring the full rate of tax on petrol and diesel.
Victorian motorists can compare fuel prices through Service Victoria’s Servo Saver, which also allows users to report incorrect prices listed by service stations.
The ACCC continues to monitor petrol and diesel prices weekly as the Middle East conflict and international fuel markets remain volatile.
