In the March quarter of 2025, average retail petrol prices across Australia's five largest cities rose to 182.2 cents per litre, marking an increase of 2.4 cents from the previous quarter. The cities affected include Sydney, Melbourne, Brisbane, Adelaide, and Perth, with Sydney, Brisbane, and Perth experiencing higher prices, while Melbourne and Adelaide saw slight decreases.

The primary factor contributing to the rise in petrol prices was a lower AUD-USD exchange rate, which averaged US 62.7 cents during the quarter, the lowest in over 20 years. This depreciation made the international cost of refined petrol more expensive in Australian dollar terms, leading to an increase in average retail prices.

If the AUD-USD exchange rate had remained stable, Mogas 95 prices would have decreased by 0.5 cents per litre. However, due to the lower exchange rate, prices increased by 2.9 cents in Australian dollar terms. Commissioner Anna Brakey emphasized that consumers faced higher prices at the pump as a result of these currency fluctuations.

Other components influencing retail prices include taxes, wholesale costs, and retail margins. The gross indicative retail differences, which reflect retail operating costs and profits, averaged 14.4 cents per litre across the five largest cities, a decrease from the previous quarter. These differences varied significantly between cities, with the lowest in Adelaide and the highest in Brisbane.

In addition to the major cities, average retail petrol prices also increased in smaller capital cities and regional areas, with Canberra recording the highest prices among the eight capital cities. The ACCC monitors prices across 190 regional locations, where average prices rose to 184.3 cents per litre, surpassing those in the five largest cities.

Despite the initial uptick in international crude oil prices, they trended downward during the quarter due to various international factors, including potential changes in oil supply and demand. Diesel prices also saw an increase across all capital cities for the first time in four quarters, reflecting a broader trend in retail fuel pricing.