Benchmark Prices

Wholesale fuel prices Australia are based on international benchmarks, which ensures local refiners will not sell all the fuel overseas to obtain higher prices.  It is important to note benchmark prices do not include freight, insurance, transport costs and wholesale and retail margins, which are also added to reach the final retail price.  

ULP Benchmark Prices

The wholesale price of petrol in Australia is based on the price of refined fuel in Singapore. The price in Singapore is in US dollars per barrel, and changes each weekday.

To develop a local wholesale price, each day the previous seven day’s prices are averaged. This is called the rolling average, and is designed to 'flatten out' sudden changes in the price. The rolling average is then converted to Australian cents per litre. The final cents per litre figure is used as the base price for local wholesale prices.

On top of this base price, there are a number of additional components added to make a final wholesale price for fuel - these include Federal Government excise, freight, wharfage, profit margins, insurance, etc.

There is a delay of two days before changes in the international price are included in the rolling average. This means we are able to estimate the base price for local wholesale prices a number of days into the future.

Each weekday we will publish the current rolling average, as well as an estimate of the rolling average of three days into the future. This information should be published each weekday by around 10:00am.  

Drops and increases in the rolling average will likely correspond with drops and increases in Terminal Gate Prices. These figures are not an accurate indicator of future retail prices but can be used as a guide - retail prices are affected by a number of other factors, such as the price cycle.

Rolling average prices for ULP (in $AU cpl) 
23 Nov:             59.3 cpl                     
26 Nov:             59.1 cpl       

Diesel Benchmark Prices

LPG Benchmark Prices

The wholesale price for LPG/Autogas in Australia is based on a benchmark price set in Saudi Arabia. This price is set once a month, and is published in US dollars per tonne. This price is converted into Australian cents per litre to form a base for local wholesale prices.

LPG/Autogas is generally made up of two gases - propane and butane. In Western Australia, it can vary from 100% propane to a 50/50 mixture of both gases. The Saudi Aramco Contract Price is actually made up of two figures - one for propane, and one for butane.  The current Saudi Aramco Contract Prices are below (or in Adobe PDF format).  Updated for November 2009.

Oct 09:              35.6 cpl
Nov 09:             38.3 cpl