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Petrol Prices Are At An Eye-Watering 10-Year High

For some, it's $30 more to fill up

Petrol Prices Are At An Eye-Watering 10-Year High

Petrol prices have hit a 10-year high, with the average hitting $1.59 across the country.

This is makes it the most expensive pricing across the board since July 2008, with the cost really felt in the hip pocket.

Peter Khoury from the NRMA spoke with the Triple M Newsroom about the jump.

"It's a shocking year, not just a bad week, with [petrol prices] getting to extreme levels," he said.

"In Sydney, it didn't get as bad as we thought it would. It got to $1.64 - so there was a bit of restraint in Sydney which was good to see.

"It's now at $1.62 on average for unleaded, with the cheapest in Sydney $1.42.

"There is relief, however, with oil prices falling over the last few weeks. So we expect to see prices drop in the coming seven or eight weeks."

There are reports of a service station in Brisbane selling for $1.78, which is the highest price since we first took to the roads in Australia 100 years ago.

"It's taking a big chunk out of the household budget - almost one in five dollars are being spent on transport costs," Mr Khoury said.

"This time last year, if you were a tradie driving a ute, you were paying $30 less to fill up."