Petrol prices are expected to soar by up to 40 cents a litre by next week nearly a month after the restoration of the fuel excise.
Costs could jump by up to 40 cents a litre within a week, potentially skyrocketing to $2.14 a litre in the major eastern cities, the Australian Financial Review reports.
According to the NRMA, Sydney's average price for regular unleaded fuel is $1.76 a litre, a slight rise from Monday, while Melbourne's is $1.82, the first time it has surpassed $1.80 since October 9.
Brisbane's average price is $1.75 a litre, while in Perth and Adelaide it is $1.78.
The wholesale price for a litre of petrol is $1.76.
Experts say Adelaide, Melbourne, Brisbane and Sydney are all following a petrol price cycle at the moment that roughly lasts for about four to six weeks.
But the cheap phase of the cycle is expected to end within a few days and the advice for motorists is don't wait for the end of the week to fill up your car.
Consumer advocates have advised people to use price apps to find the cheapest prices.
The cost at the bowser is also climbing for international reasons.
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The Organisation of Petroleum Exporting Countries (OPEC) has agreed to cut production by 100,000 barrels a day, which is also causing prices to rise around the world.
Today's release of new inflation data is expected to show continuing rising price growth for the September quarter, with annual inflation to reach 7 per cent.
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