Sydney ULP prices 1998-2013
Impact of exchange rate AU$ – US$ on petrol prices
Retail petrol prices were at their highest at the end of February 2013 and were around 151 cpl. The AUD–USD exchange rate was around USD 1.03 at this time. If the exchange rate had been at its six-year minimum level at this time (USD 0.61), retail prices would have been around 213 cpl (or 62 cpl higher).
Excise (38.14 cents per litre) is not indexed to inflation since 2001 (Howard government decision). Therefore, revenue will erode over time .
Turning point was 2005, when peak oil started