Business news

    International factors kept diesel prices significantly higher than petrol prices in Dec quarter 2022

    Article Image

    Petrol prices increased slightly and diesel prices remained significantly higher than petrol prices in the December quarter 2022, according to the ACCC’s (Australian Insurance & Investments Commission) latest quarterly petrol monitoring report.

    Quarterly average retail petrol prices in the five largest cities (Sydney, Melbourne, Brisbane, Adelaide and Perth) were 182.7 cents per litre (cpl), an increase of 5.0 cpl from the September quarter 2022, and average retail diesel prices were 222.9 cpl in the quarter, more than 40.0 cpl higher than average petrol prices.

    “Our report shows a range of international factors contributed to higher retail diesel prices in Australia,” ACCC Chair Gina Cass-Gottlieb said.

    “The small increase in average retail petrol prices in the major cities reflects the increase in taxes following the restoration of the full rate of excise from 29 September 2022, offset by a decline in international petrol prices.”

    Disclaimer

    Grafa is not a financial advisor. You should seek independent, legal, financial, taxation or other advice that relates to your unique circumstances. Grafa is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on the information provided directly or indirectly by use of this platform.

    Publisher
    Grafa