Petrol Prices Hit Three Year High As Gas Retailers Pocket More Than Ever

Ouch!

Petrol Prices Hit Three Year High As Gas Retailers Pocket More Than Ever Pexels

Fuelling up is the most expensive it’s been in three years as petrol prices continue to rise. 

Average petrol prices increased by 12.6 cents per litre to 135.1 cents per litre in the December 2017 quarter, according to the ACCC's quarterly petrol report released on Friday.

This makes prices hit their highest levels since 2015 in Sydney, Melbourne, Brisbane, Adelaide and Perth.

But retailers are pocketing more than ever – with gross retail margins in the cities were 14.2 cents per litre, an increase of 3.9 cents per litre from the previous quarter.

That's the highest they have ever been since records began in 2002.

The ACCC’s chairman, Rob Simms, suggests consumers fight the price rise by shopping around and using fuel apps to find the best deals.

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