FUEL prices in Canberra have reached as high as 211.9 cents per litre today (May 26) with the cheapest at 195.9 cents a litre, according to PetrolSpy Australia.

NRMA Spokesperson Katrina Usman said earlier this week the ACT had the lowest average petrol price of all capital cities across Australia but today has the fourth highest in the country, behind Sydney, Hobart and Brisbane.

“Canberra fuel prices have just hit the $2 mark,” said Ms Usman.

“Prices for diesel in the ACT are 211.2 cents per litre, so the difference between high and low prices for both diesel and unleaded is about 15 cents.”

Ms Usman says people are hopeful that by the time the fuel excise is returned in September the wholesale price of fuel will be less volatile, but also says things can change “quite quickly.”

“We’ve got the ongoing conflict in Ukraine, a strong US dollar, and COVID-19 lockdowns in China which aren’t expected to be lifted until June, so there’s a number of global factors that are really contributing to the higher prices at the moment,” she said.

“Customers aren’t paying the extra 20 cents or so per litre at the moment because of the fuel excise tax cut, so we’re not seeing the record highs we were earlier in the year, but prices are still high and it’s having a big impact on cost of living for motorists.”