Track Australian petrol and diesel prices

Australians are seeing immediate relief at the petrol pump following the federal government’s cut to fuel excise, with the average unleaded petrol price dropping 21.2 cents per litre on Wednesday.

The government halved the fuel excise to ease the pain of rising fuel prices, lowering the tax paid by retailers by 26.3 cents a litre. This means a 65-litre tank will be $19 cheaper than it otherwise would have been, assuming the full savings have been passed on.

Treasurer Jim Chalmers had suggested it would take “somewhere between maybe one and two weeks” for the full benefit to flow through to consumers, but early data indicates most stations around the country have passed on almost the full savings on the first day.

Official government data from most Australian states and territories is being used to track the latest prices for both unleaded 91 and diesel.

The story is similar for diesel, which is crucial for Australia’s transport, agriculture and mining industries, despite most personal vehicles not running on it. While diesel prices are also changing, stations haven’t immediately passed on as much of the excise cut as they have for unleaded petrol.

What’s the fuel price in my area?

Price variations across cities and regional areas have lessened in recent weeks, with prices converging at similar levels nationwide. Data is updated in near ‘real-time’, with most stations reporting at least once a day.

Victorian and Western Australian data is currently unavailable due to the way those states release price information. However, the trend is consistent with the rest of the country.

How much supply does Australia have?

The federal government is reporting on fuel stocks held under the Minimum Stockholding Obligation each week during the Middle East war. The minimum stockholding is an emergency reserve, held above normal supplies.

Although some supplies have been released in recent weeks, the number of days of supply being held has increased, as deliveries continue and stocks are replenished. Data on fuel stock levels is reported by regulated entities each Tuesday and released by the government in aggregate on Saturdays, meaning it lags behind current supply levels.