Surprise cut to global oil production expected to add 5c to Australia’s average petrol price

‘We’re not in petrol purgatory anymore’ but prices not yet low enough to deliver ‘meaningful relief to families’, NRMA says

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The surprise decision of Saudi Arabia and other Opec+ members to cut global oil production is expected to add 5c to Australia’s national average petrol prices in the coming weeks, analysts warn.

But the uptick won’t be enough to override the normal price cycles, which will see costs in some states fall over the Easter long weekend and in the lead up to Anzac Day.

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