Australia Petrol Prices Ease to 234 Cents a Litre as Wholesale Costs Fall, but Diesel Stays Near 278 Cents

SYDNEY — Australian motorists are getting some relief at the pump as wholesale fuel costs fall, though prices remain far above where they were before the Middle East conflict pushed global oil higher this year.

Unleaded 91 averaged 234.3 cents a litre and diesel 278 cents across Australia as of Nov. 7, 2026. Over the 30 days to Nov. 7, the national daily average for unleaded 91 fell 9.6 cents a litre.

ACCC report

The competition regulator's latest figures showed modest declines. Average petrol prices across the five largest cities fell 1.1 cents to 232.7 cents per litre in the week to Nov. 4, and diesel fell 0.9 cents to 275.8 cents, tracking lower international benchmarks that remain well above pre-conflict levels.

Regional drivers continue to pay more. Across more than 190 regional locations monitored by the ACCC, average petrol prices were 244.8 cents per litre on Nov. 4.

Wholesale prices dropping

Wholesale costs fell steadily last week, which could feed through to the pump. Sydney's terminal gate price for petrol dropped from 226.7 cents on Monday, Nov. 2, to 212.8 cents on Friday, Nov. 6, while Melbourne's fell from 225.0 to 211.7 cents.

Diesel terminal gate prices also eased, with Sydney falling from 267.2 to 259.2 cents over the same period.

That leaves room for further retail cuts. Diesel was 21.0 cents a litre above its terminal gate price on Nov. 6.

City differences

On Nov. 2, unleaded 91 prices ranged from 234.2 cents a litre in Adelaide to 248.0 cents in Darwin. A 50-litre refill cost $119.75 in Sydney, compared with $117.10 in Adelaide.

Global backdrop

Oil prices fell sharply after the U.S. midterm elections on hopes of an end to the Iran war, which helped push wholesale fuel costs lower. Further moves will depend on developments in the Strait of Hormuz and peace talks.