Sydney residents have been urged by NRMA to top up their tanks before ‘freedom day’ hits on 11 October.
The average price of unleaded petrol has seen steady falls and will fall to around 145 cents a litre by this long weekend, the insurance giant said. NSW’s Labor Day falls on Monday 4 October.
“Sadly a lot of us won’t be hitting the roads this long weekend, but a day off is certainly a time when many families take care of essentials or head out for a picnic,” said NRMA’s Peter Khoury.
“So it’s an ideal time to fill up while prices are lower.”
The NRMA expects that fuel prices will rise again by the time 11 October rolls around.
Savvy motorists who fuel up at the “right location” stand to save as much as $25 a tank, Khoury said.
Meanwhile, regional petrol prices will stay steady, and diesel drivers are actually facing higher-than-normal prices at 150.9 cents per litre.
Petrol prices in turmoil
Overall, Australians are currently paying more than usual for petrol, with rising international oil prices pushing Aussie petrol prices to nearly three-year highs, and record-highs in some parts of the nation.
"Upward pressure on international crude and imported refined petroleum prices are likely to keep domestic petrol prices elevated," said CommSec senior economist Ryan Felsman.
Petrol ‘panic-buying’ in Britain left motorists waiting hours to fuel up, but Khoury told Yahoo Finance that the same thing won’t happen in Australia.
WATCH BELOW: Long car lines form amid petrol panic-buying in London
“The most important thing is that this is a transport related issue… it’s very much a UK issue, it hasn’t affected the global market and it hasn’t even affected the European market,” he told Yahoo Finance.
Australia isn’t having the same supply chain issues around fuel, he added. “We didn’t even have those issues in the Second World War.”