Fuel prices tipped to hit five-year high

The NSW motoring association's Weekly Petrol Report reveals the average price of unleaded petrol in Sydney is anticipated to reach $1.58 cents per litre at the high point of the next price cycle – the highest since September 2008.

The report recommends that Sydney motorists should hold off filling up their vehicles around this time if possible.

Sydney’s most recent petrol cycle has lasted 22 days, 4 days longer than the previous month. Today is day 10 in the current price cycle and average prices are 148.6 cents per litre. Prices are expected to fall to 142 cents per litre at the low point of the current price cycle.

Meanwhile, the NRMA predicts the average price of diesel should rise above 147 cents per litre in Sydney this week, while average LPG prices should remain under 65 cents per litre over the next seven days.