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Fuel prices Australia: Diesel to set price record for fourth day as unleaded petrol to reach $2.40 by March

Diesel will set a price record for the fourth day in a row when it averages 214.3c a litre across Perth on Saturday, which comes amid warnings unleaded petrol will climb as high as $2.40 by mid-March.

While the average cost of unleaded will drop to 210.9c per litre today, the Motor Trade Association of WA cautioned the top of the next two-weekly price cycle — which falls on March 23 – was likely to bring even greater pain for motorists.

That is because the terminal gate price of unleaded — what retailers pay when purchasing petrol in bulk — continues to surge upwards.

WA’s terminal gate price, which fluctuates in line with the global oil market, jumped from 178.8c per litre on Monday to 196.4c per litre on Friday.

Perth’s fortnightly price cycle is now on a downward trend, meaning motorists can expect to be temporarily shielded from further increases to the wholesale price — but only until the next peak later this month.

“Petrol stations are always running about two weeks behind (in their pricing), which is why we’re saying expect $2.30 to $2.40 within the next few weeks,” MTAWA chief executive Stephen Moir said.

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