Sydney Fuel Prices Soar Past $2/Liter After Excise Discount Ends

Fuel prices in Sydney have surged past $2 per liter after the Albanese government's fuel excise discount ended on August 3, 2026.

The average price for regular unleaded petrol rose to $2.01 in Sydney and $2.02 nationally, according to Fuel Check.

Peter Khoury from the NRMA expects prices to continue rising as the fuel excise returns to normal levels.

NRMA spokesperson Peter Khoury said that 'the flipside is what actually happens globally to oil prices.'

Treasurer Jim Chalmers warned service stations they would be watched 'like a hawk' for any price gouging, with the Australian Competition and Consumer Commission able to fine up to $100 million per offense.