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Petrol prices in Australia — why they move the way they do

Australian petrol prices are tied to global oil markets, primarily the Singapore Mogas 95 benchmark. When crude oil prices rise internationally, Australian pump prices follow within days. When they fall, the pass-through is somewhat slower — a phenomenon economists call "rockets and feathers."

The federal fuel excise accounts for 48.8 cents per litre (2024) of the pump price, regardless of the base product cost. Add GST (10%) on top of the total price and you'll find taxes can comprise 30–40% of what you pay at the pump.

• Price cycles: Sydney and Melbourne experience well-documented weekly price cycles. Prices drop gradually over several days then jump sharply — typically mid-week. Buying when prices are at the bottom of the cycle saves money.
• Regional premium: The further from a major city, the higher the price. Remote communities in the NT, WA, and Queensland can pay double the metropolitan rate due to transport costs.
• E10 vs 91 vs 95 vs 98: Most cars run fine on E10 (10% ethanol blend) which is the cheapest option. Premium fuels (95/98) are only beneficial for high-performance or European engines that specify them.
• Fuel monitoring apps: GasBuddy and state-based apps (e.g., FuelWatch in WA) track real-time prices at local stations — worth using if you're flexible about where you fill up.