What is the latest with Australian fuel prices and will they come down?
Australia + petrol: key stats
Australia imports roughly 80–90% of our liquid fuel from refineries in Asia.
We store relatively little of our fuel in Australia.
We depend heavily on stable global shipping to get our fuel supplies.
Australia currently has around 36 days of fuel stored.
Why are petrol prices rising?
Australian petrol prices have risen sharply in the last few weeks, with petrol as high as $2.50. And prices could rise even higher.
The main driver of rising fuel prices is the US-Israel war with Iran. This conflict has quickly escalated to involve attacks on oil fields and gas plants across the Persian Gulf. Iran has effectively blocked the Strait of Hormuz, a key shipping lane that around 20% of the world's oil passes through.
This supply shock, and the rising insurance costs associated with the war, have caused the price of Brent crude oil to soar to over. Oil, which had hovered around $60 a barrel before the war, has jumped to around $90 a barrel and was close to $100 at some points.
Households are already reporting higher stress. Almost twice as many Aussies in March rated petrol in their top 3 most stressful expenses.
Higher petrol prices may push even more Australians to electric vehicles which have steadily grown in popularity over the last year. Even in February, before the war in Iran began, electric vehicles accounted for 30% of all vehicle sales in Australia, up from just 24% in April 2025.
Where does Australia get its fuel from?
Australia buys fuel from refineries in places like Singapore, South Korea, Malaysia, Taiwan and India. We import around 90% of our liquid fuel needs.
These refineries get their oil from the Middle East and other sources, so the supply shock affects Australia's access to fuel.Unless you happen to be president of the United States, there's not a lot you can do as an individual to affect the global oil supply.
But the savvy petrol shopper can find lower prices and lock in better deals in a few ways:
Monitor prices via apps. In NSW you can use FuelCheck to track petrol prices. In Queensland there's RACQ Fair Fuel. Even just a quick Google search reveals prices in your area. You can set up alerts for price drops too.
Get discounts. If you fill up at EG Ampol and shop at Woolworths you can save 4 cents per litre of fuel for every $30 you spend at the supermarket. You can also redeem 2,000 Everyday Rewards Points for $10 off at Ampol. You can get a similar discount at Shell Reddy Express with a Coles docket.
Use apps. The My 7-Eleven app lets you lock in the best local fuel price in your area. You can also earn Velocity Points on your fuel. You can earn points when you fill up at a CaltexGO station with the CaltexGO app.
Change the way you drive. If you're hard on the brakes and accelerator and drive around with a boot loaded up with heavy stuff, you're using more petrol. Lighten up and slow down.
Use cheaper fuel. E10 is fine for a lot of cars. Do your own research carefully, but consider using this cheaper option if you can.
Ditch the car if you can. Walking, cycling or taking public transport means less need for petrol. For some people this is not possible or a massive inconvenience. But if you have alternative options now is a great time to explore them.
Australians are already struggling with petrol prices
19% of Australians tell Finder petrol is one of their top 3 most stressful living expenses. And that's from surveys before the current price shock. 41% of Australians also say they have less than $1,000 in savings.
Is it time to go electric?
Australians have already embraced electric cars. A Finder survey showed that 2 in 5 new cars purchases in 2024 would be electric or hybrid cars.
And those drivers are certainly laughing now. Data suggests an electric vehicle could save you almost $3,000 annually in fuel costs. And if oil prices continue to rise, you could save even more.
Richard Whitten is Finder’s Senior Money Editor, with over eight years of experience in home loans, property, credit cards and personal finance. His insights appear in top media outlets like Yahoo Finance, Money Magazine, and the Herald Sun, and he frequently offers expert commentary on television and radio, helping Australians navigate mortgages and property ownership. Richard started his career in education and textbook publishing in South Korea. He holds multiple industry certifications, including a Certificate IV in Mortgage Broking (RG 206) and Tier 1 and Tier 2 certifications (RG 146), as well as a Bachelor of Education from the University of Sydney and a Graduate Certificate in Communications from Deakin University.
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Joshua Godfrey is a Senior Insights Analyst at Finder, specialising in data analysis and identifying emerging trends through the Consumer Sentiment Tracker, a monthly survey on Australians' financial attitudes. He has authored Finder’s 2024 Wealth Building Report and 2025 First Home Buyer Report which have been widely quoted in top media outlets like the AFR and news.com.au. With a Bachelor of Business in Finance and Marketing and a Diploma of Creative Intelligence from UTS, Josh is passionate about uncovering patterns in consumer sentiment and exploring how they influence the future of finance.
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