Sydney drivers have been told it’s too late to fill up cheaply before the long weekend, with petrol prices set to hit an 11-year-high.
The average price for petrol is expected to reach 166 cents a litre on Wednesday and won’t begin to drop again until next week, the NRMA says.
Spokesman Peter Khoury said the increased volatility of world oil prices is to blame and Australia is “hugely exposed”.
“We knew the attacks in Saudi Arabia, along with the ongoing trade war between the United States and China and a weaker Australian dollar would all work against our members here at home and we are now confronted with 11-year-high prices just as families are going away,” Mr Khoury said.
The NRMA says Sydney families on average spend about 20 per cent of their weekly budget on transport costs and the high prices come when families can least afford them.
“Not only are they paying for it at the bowser but they’re paying for it in terms of the broader impact on the economy,” Mr Khoury told reporters.
However, he said relief was on the way, with a slight fall in world oil prices to reduce petrol costs by 10 cents a litre later in October.
In the meantime, he said: “Stay out of the servos if you can. If you have to fill up, do your research.”