Experts have urged motorists to stay calm amid tensions in the Middle East, which are expected to increase wholesale petrol prices. Sydney is currently at the low point of the price cycle.

Council of the City of Sydney

Petrol prices in Sydney have reached a low point in the local price cycle, with unleaded fuel available for as little as $1.60 per litre at some stations. Drivers are being advised to fill up now, as a recent $0.08 per litre increase in wholesale prices—linked to renewed conflict between Israel and Iran—may soon be passed on to consumers.

Despite the international tensions, authorities stress that there is no need for panic, as the Strait of Hormuz remains open and supply is steady. The NRMA is monitoring wholesale prices to ensure fair pricing, and about half of Sydney's petrol stations are currently offering unleaded for $1.70 per litre or less. Consumers are encouraged to shop around and avoid panic buying.

Sydney drivers urged to fill up as petrol prices hit cycle low

Well, Sandra, with the cost of unleaded at just $1.60, the advice is to do what some drivers are here tonight, and to fill up your tank. Not because of the tensions in the Middle East, but because right now here in Sydney, we are sitting at the bottom of the domestic price cycle. That being said, what happens overseas does filter through, usually with a 7-10 day lag, and we've started to see it already. Since the conflict reignited between Israel and Iran, the wholesale petrol price in Australia has jumped only by $0.08 per litre, but that is expected to be gradually passed on to drivers right around the country. And in these volatile times, those prices will likely go up again. The NRMA has vowed to keep a close watch on that wholesale price to make sure that we aren't being ripped off. As for what we should do, well, the message is clear. It's really important for Australians to understand because we do not want Australians panicking. The Strait of Hormuz remains open. It's important that people don't panic. He says around half of the petrol stations in Sydney are selling unleaded for around $1.70 per litre or less tonight, so the message, Sandra, is to shop around, of course, don't panic.

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