Capital city fuel prices expected to surge, according to the NRMA, while the Australian consumer watchdog has been asked to stay on high alert for gouging.
Motorists are being asked to be vigilant for increased fuel prices across Australia as the rising tensions in the Middle East are likely to send petrol and diesel costs up.
National Roads and Motorists Association (NRMA) representative Peter Khoury is calling for drivers to "fill up now" to avoid the sting of overpaying for fuel.
"If you live in Sydney, Brisbane, Melbourne, Adelaide or Perth, fill up now,” Khoury said.
“The wholesale price in Australia has gone up about eight cents a litre since two Fridays ago, when the escalation really flared up between Israel and Iran.
“It will go up again, this is the expectation.
“We don’t know by how much … based on what we’re seeing out of the US, it could be three or four dollars a barrel.”
If the price of petrol increases the expected 8c per litre, it could costs motorists around four per cent more to fill up a 50-litre fuel tank based on this week's inner-city Sydney price average.
A warning has also been sounded by Federal Government Treasurer Jim Chalmers who wrote to the Australian Competition and Consumer Commission (ACCC) earlier this week requesting close monitoring of fuel prices and that service stations not “do the wrong thing by Australian motorists”.
The potential fuel price rise comes just days before the commencement of school holidays around Australia, where families may need to consider the extra cost.
Ilana is a Melbourne-based journalist who was previously a copywriter in the Big Apple. Having moved to Melbourne for her Master of Journalism, she has written articles about food, farm machinery, fashion, and now the fast and furious. Her dream car has been a Mini Cooper since the fifth grade, eyeing its style and petite size.
