PETROL prices in the Hunter have soared past $2 a litre as international factors put pressure on supply.
The cheaper E10 fuel climbed to 185.9 cents per litre in Newcastle on Thursday, while premium 95 unleaded hit 202.9 at most service stations.
Premium 98 unleaded jumped to 210.9 at outlets, including Shell at Charlestown and BP at Hamilton South.
Around Raymond Terrace, prices for E10 varied - while the BP at Heatherbrae was consistent with regional prices at 185.9 cents per litre, across the highway, the Metro prices were staying low at 155.9.
According to the NSW government Fuel Check website, the average price of petrol is 171.2 cents per litres across the state, up from a low of 157.8 at the start of January.
A spokesperson from the NRMA told the Newcastle Herald thatpetrol prices in Maitland are among the state's best, sitting at an average of 157.7 cents per litre.
Around Newcastle, petrol prices - at an average of 167.3 cents per litre - haven't quite reached the levels seen further out in the Hunter.
Prices in both Muswellbrook and Singleton have shot past the $1.70 benchmark, with motorist paying an average of 173.9 and 172.2 cents per litre respectively.
Central Coast drivers are facing some of the state's highest bills with average prices at 178.3 cents per litre.
The NRMA spokesperson said that while COVID is having an impact on prices, there are more factors at play.
"Obviously a significant reason for the price increase comes from tensions in Ukraine and the talk of sanctions on Russia - who play an important role in global supply," the spokesperson said.
"Another reason is the ongoing strategy of OPEC countries to cut supply and raise prices."
The international price of Singapore Mogas 95, a refined petrol, makes up around 50 per cent of the retail price of fuel in Australia. Recently, Mogas 95 has seen a price increase back up to around $100 a barrel.
Usually relatively steady in periods of petrol price fluctuation, diesel in Newcastle has risen to 166 cents per litre.
"It's been a particularly cold winter in the Northern Hemisphere so diesel, which is used for heating, has seen an increase in demand," the NRMA spokesperson said.
Petrol prices in Sydney are currently on par with record highs at around 180 cents per litre. While prices in the city are expected to drop slightly, along with the Central Coast, regional NSW is likely to see further inflation.
"A lot of regional areas didn't get any relief when oil prices dropped toward the end of last year so I'm hoping we wont see any major increase in the coming weeks," the spokesperson said.
