High Petrol Prices Expected to Persist Until at Least November

Australia's high petrol prices are expected to persist until at least November, according to experts. The warning comes from Nine Entertainment mastheads, which reported on September 19, 2026 that 'experts have warned sky-high petrol prices will remain until at least November.'

The article does not name the experts or provide any figures or causes for the high prices. It is unclear what the term 'sky-high' refers to in this context.

Australia's fuel market is structured such that most refined petrol is imported from Asian refineries and priced off the Singapore Mogas 95 benchmark. The pump price follows the Singapore quote, converted at the Australian dollar's exchange rate with the US dollar, plus freight, wholesale, and retail margins.

Taxes are a fixed floor in the fuel market. The Commonwealth fuel excise stood at 49.6 cents per litre from August 2024 and is indexed to inflation each February and August. The goods and services tax adds 10 percent on top of the pre-tax price.