Petrol prices shoot up 49c overnight across Melbourne to astronomical heights just hours after Dan Andrews announced an end to lockdown
- Unleaded petrol prices surge 49 cents in the last 24 hours in Melbourne
- High prices come hours after Victorian Premier announces an end to lockdown
- Experts believe more service stations could continue to increase petrol prices
- Motorists are encouraged to shop around to find the best petrol price
Motorists were shocked to find Melbourne petrol prices skyrocketed 49c when they woke up to their first day free from lockdown.
Unleaded fuel reached an average high of 176.9c per litre and an average of 164.8c on Wednesday morning.
The price surge was hours after Premier Dan Andrews lifted the lockdown and Victorians were allowed to travel more than 5km.
Unleaded petrol prices have reached a high of 176.9 cents per litre in Melbourne as Victorians get back on the road after lockdown was lifted (stock image)
Experts believe more service stations will continue to raise prices as data showed an increase in prices each day leading up to the end of lockdown.
Just last week, the state’s motoring club and mutual organisation, unleaded petrol was an average of 145.1c per litre, according to RACV data.
‘Given there is clear upward trend in prices, RACV would advise drivers to fill up at service stations still offering lower prices, as this trend may continue as lockdown lifts,’ RACV’s Andrew Scannell said.
The Australian Competition and Consumer Commission agreed and urged motorists to shop around for the best petrol price.
Experts urge motorists around the state to shop for the best petrol prices as the trend may continue as lockdown is lifted
Geoff Trotter, general manager of Fueltrac, a petrol price monitoring service told the Herald Sun the sudden price rise was a clear cash grab to exploit Victorians emerging from lockdown.
‘There is no connection between the price at Melbourne service stations going up in the last few days by almost 50c a litre,’ he said.
‘Nothing has happened to the international oil price or the exchange rate that would possibly justify that sort of increase.
‘It’s amazing how quickly they can coordinate these price movements. It takes them weeks to bring the price down, but they can get prices up remarkably quickly.’
The cheapest prices currently around in Melbourne are seen in the outer suburbs of the city within the price range of 133.3c to 138.3c per litre.