Petrol prices again soar past $2 a litre in Geraldton despite government excise cut

Reprieve from soaring costs at the bowser were short-lived, with fuel prices at most service stations at Geraldton again tipping over the $2 a litre mark on Thursday. The Federal Government’s temporary cut to the fuel excise ends on September 29, triggering more fears about how much higher prices will go beyond that point. On Thursday, the highest ULP price was 215.9¢ a litre at Smart Mart Pure Convenience on Flores Road, while the cheapest was 199.7¢ a litre at United Rangeway. The price of unleaded petrol at Puma Tarcoola and Puma Glenfield of 201.7¢ a litre was middle of the road, but those prices will rise to 203.7¢ a litre on Friday. Fuel prices in many Perth locations have risen well past the mark — the BP in Scarborough, for example has a price rise of 226.9¢ a litre. FuelWatch manager Ben Derecki said it was expected for the cost of fuel would continue to rise in the short term. “As the Federal Government has indicated it will not extend the temporary cut to the fuel excise past its September end date,” he said “We would expect to see fuel prices increase by that 22.1¢ per litre in the weeks following that change.” Mr Derecki said there were several factors causing significant price rises but Russian oil sanctions were causing additional pressure on demand. “Increasing demand for fuel products as more countries remove COVID-19 related restrictions is one of the primary issues driving up prices,” he said.