Grey nomads and other motorists who expect to be clocking up a lot of kilometres in the weeks and months ahead are being warned that their fuel budget will need to be a hefty one.
Petrol prices increased 7.2% in the quarter just gone, contributing a quarter of a percentage point to quarterly inflation … and the future isn’t looking too bright, either.
The Government says production cuts and disruptions in global oil markets have been a key driver of inflation, and are the main reason why Australians have been facing higher prices at the bowser.
And the Treasurer, Jim Chalmers, said people should not hold their breath waiting for significantly lower prices.
“We shouldn’t be surprised to see some volatility in inflation figures going forward, particularly given the global uncertainty from the conflict in the Middle East and the war in Ukraine,” he said.
The fact that the Australian dollar is relatively weak at the moment isn’t helping the petrol price situation, either.
While higher fuel prices affect most people around the country, grey nomads – who typically drive long distances in big rigs and who are commonly on tight budgets – tend to feel the pain at the bowser particularly acutely.
For a way of getting an overall picture, a litre of diesel in Derby, WA, has recently been costing around $2.56; in Cooktown in Queensland, it has been around $2.26; and in Tennant Creek in the NT, it had been around $2.30.
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