Petrol prices hit 13 month high

Drivers were in for a huge shock this week when they went to fill up their cars, with fuel prices hitting a 13-month high across the Silver City and other parts of Australia.

The average cost of unleaded in Broken Hill on Thursday was around $1.98, with a high of more than $2, and the lowest price sitting at a still high $1.94 a litre.

National Roads and Motorists’ Association (NRMA) spokesperson Peter Khoury said, “ongoing conflict in Ukraine, slow manufacturing growth in China, and a falling Australian dollar are some of the factors influencing prices. While oil producers are also continuing to keep oil production tight, which is driving prices up too.”

It’s only set to get worse, with Sydney’s average price for unleaded hovering around $2.13 per litre, meaning it is likely those prices will flow into the Silver City very soon.

The NRMA claim the price cycle is nearing its peak and are encouraging people to shop around for cheaper fuel prices.

“If the terminal gate price stays close to what it is now, we can expect prices to start to fall from next week, with prices reaching the mid-180s at the bottom of the cycle in the next three to four weeks, Mr Khoury said.

“Petrol pain continues to have a negative impact on Australian families, with high prices adding to Australia’s inflationary pressure and hurting family budgets. Hitting a 13-month high this week only adds to the pain,” Mr Khoury added.

On Friday, the cheapest petrol in Broken Hill was found at the Metro Service Station on Gypsum Street, selling unleaded at 195.7 cents a litre, with diesel at 210.9.

At the other end of the scale, the Coles Express on Williams Street had the most expensive fuel with unleaded at a whopping 202.9 cents per litre and diesel at 222.9 cents per litre, although if you have a Flybuys card you can save four cents a litre at Coles Express servos, so that knocks it down a bit.

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