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What US$100 a barrel of oil price really means for Australian petrol and diesel
Australian petrol and diesel prices include about 33% tax and reflect limited refining capacity and import reliance, with diesel costing 26.1 cents more per litre than petrol, AIP data shows.
- Today, Brent crude reached US$100.21 a barrel, equating to roughly 63.0 US cents per litre or 90.0 Australian cents a litre in raw crude terms.
- The Australian Institute of Petroleum says local petrol is driven by Singapore Mogas 95 and diesel by Singapore Gasoil with a one- to two-week lag, and Australia is still heavily exposed to imported refined product pricing, relying on Ampol's Lytton and Viva Energy's Geelong refineries, effectively acting as a price taker.
- AIP weekly data for the week ending March 15, 2026 shows national average petrol at 219.5cpl and diesel at 245.6cpl with wholesale averages of 194.4cpl, moving from Brent equivalent 87.9cpl to Singapore Mogas 95 at 123.6cpl and Singapore Gasoil 10ppm at 160.6cpl.
- The ATO updated its excise duty rates from February 3, 2026, lifting excise to 52.6cpl, making GST plus excise about 72.55cpl on petrol, roughly a third of the price.
- Ampol's Lytton disclosure shows its 2025 build-up: a Singapore weighted margin of US$13.54 plus freight and premiums produced a refiner margin of US$10.34 a barrel, not a profit at the bowser.
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14 Articles
Middle East oil crisis sparks fivefold price surge for petrol as EV drivers spared cost hikes
Motorists of popular vehicles have been warned they could be hit with sharp fuel price rises as tensions in the Middle East drive up global oil costs.Fresh analysis from campaign group Transport & Environment suggested petrol drivers will be far harder hit than those using electric vehicles if crude prices surge above $100 (£75) a barrel amid the Iran conflict.According to the research, the cost of running a typical petrol car has already jumped…
·London, United Kingdom
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He pointed out that the price of oil at $70 per barrel, which was before the war in the Middle East, and the current price of $100 per barrel are not the same.
Coverage Details
Total News Sources14
Leaning Left1Leaning Right3Center1Last UpdatedBias Distribution60% Right
Bias Distribution
- 60% of the sources lean Right
60% Right
L 20%
C 20%
R 60%
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