The cost of filling up at the bowser has reached its highest level ever recorded in Canberra.
The average cost of a litre of unleaded will now set drivers back more than $1.70
The NRMA’s Peter Khoury said, unfortunately, it’s not just Canberra feeling the pinch.
“It’s been at that level now for a couple of weeks, what is happening in Canberra is happening globally and unfortunately there doesn’t look like there’s much relief in sight.”
An increase in global demand for oil, as countries emerged from lockdown, is being blamed for the uptick in prices.
“The supply of oil has not kept up with demand with OPEC and other oil producing countries maintaining a tight lid on production levels, that has artificially pushed the price up.”
It’s prompted renewed calls for the introduction of the reporting of ‘real time’ prices in the ACT.
A similar program has been successfully running in New South Wales for the past five years.
“Whether prices are up or down, it gives people the information they need to find whatever the cheapest petrol is in their local area.” Mr Khoury said.