Petrol prices falling but not as quickly as they should be

Motorists are set to see more relief at the bowser in the coming weeks with petrol retailers being accused of being slow to pass on savings.

The wholesale price of petrol in Australia has fallen by around 30 cents a litre, more than half that in the last week alone.

But the average price for unleaded has only fallen by 8 cents a litre.


The national average price is currently $2.04 a litre and is expected to fall to $1.84 a litre.

But the cost of diesel remains disproportionately high with prices around 40 cents a litre higher for diesel than it is for unleaded.

Experts also warn any relief at the bowser is likely to be short-lived after global oil costs rose by almost 5 per cent overnight.

The 50 per cent cut in fuel excise will also be wound up at the end of September with the Albanese government ruling out extending it.

That will add another 22.1 cents a litre to the cost of petrol.