The cost of fuel across the state has skyrocketed in recent weeks and Macedon Ranges is now feeling the burn.
RACV head of communications and engagement, Andrew Scannell, said prices for unleaded petrol have increased over the last two weeks, from 179.9 cents per litre on March 6, to 192.7 cents per litre as of Sunday, March 20.
“RACV recommends that motorists shop around for the best price using the RACV Fuel Tracker or their arevo app,” Mr Scannell said.
“The trend for fuel prices over the coming weeks is difficult to predict and will depend on a range of factors, including geographical area, availability, international benchmark prices, taxes, the value of the Australian dollar relative to the US dollar and levels of competition in different areas.”
According to RACV’s ‘Find your local fuel prices’ function, the cost of unleaded fuel at a pump in Woodend was 209.5 to 214.4 cents per litre on Thursday, March 24, and the same price in Kyneton.
Australasian Convenience and Petroleum Marketers Association chief executive Mark McKenzie said the increased cost of fuel had been delayed in regional areas, because they are exempt from the capital city price cycle.
“What we’re actually seeing start to flow through now is just the wholesale price increase, which means we’re seeing prices go up in the order of between 15 and 20 cents a litre, as a result of oil price movements in the first half of the month,” Mr McKenzie said.
He added though it was impossible to predict where the cost of fuel would land, it was “not all dark”.
“There is reason to expect that the Australian dollar will continue to climb… and each time that happens, you’re seeing a one per cent decline in what it costs us to buy the fuel in Australian dollars,” Mr McKenzie said.
“We’re going to deal with a lot of volatility in the next four to eight weeks, but it is just as plausible that it will go down as it is that it will continue to go up.
“It’s a 50-50 bet,” he said.
