Wollongong's most expensive petrol set to get even pricier

The excise fee on petrol and diesel which was halved from 44.2 cents a litre to 22.1 cents a litre amid rising costs of living will be re-implemented from September 29.

Several fuel providers in the region have already knocked up their prices to as high as $1.90 per litre including Coles Express Corrimal which is charging 193.9c per litre for E10.

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According to NSW fuelcheck, the average fuel price today sits at $1.714 a litre which is up by almost 10 cents from Thursday last week.

Coles Express' fuel provider Viva's spokesperson said fuel prices move up and down depending on several factors.

Changes in international benchmark prices and the value of the Australian dollar relative to the US dollar are factors contributing to the change in prices.

Some other reasons behind the cost fluctuation are levels of competition in different areas and also the pricing decisions by wholesalers and retailers.

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The consumer watchdog, Australian Competition and Consumer Commission (ACCC) is advising people to shop around to look for the best prices.

"The ACCC will continue its weekly reporting to consumers about what is happening to fuel prices and when to find the cheapest fuel," an ACCC spokesperson said.

The ACCC will be closely monitoring the fuel prices and remind that petrol stations must not make false and misleading statements to consumers about the reasons for any price increases.

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"We will shortly be engaging with fuel wholesalers and retailers to say that we do not expect to see uncharacteristic or abnormal wholesale and retail price increases in the days leading up to, and on the day of, or after, the reintroduction of the full rate of fuel excise," ACCC Chair Gina Cass-Gottlieb said.

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