Orange petrol rates surge again with crude oil slashes forcing more price hikes

Considering a blow like that roughly tallies an extra $20 in the tank per 60 litres - that's a huge gap.

If the excise being scrapped on September 29 wasn't enough pressure at the bowser, the majority of petrol service stations will soon be on par with these newest fuel figures.

Average petrol prices rose on November 3, with more than a handful Orange's service stations showing Unleaded 91 fuel at 214.9 cents per litre, which was recorded on the NSW Fuel Check website.

These six sites were both of the city's 7-Eleven and EG Ampol hubs, including Metro Orange and the Coles Express service station in the CBD.

Around the corner, both United fuel hubs advertised U91 at a cost of 181.5 cents per litre.

So, what is going on?

A global decision in October officially came into effect on Wednesday, which has immediately reduced the amount of crude oil up for sale.

The Organisation of the Petroleum Exporting Countries, or OPEC, determines how much fuel it'll give the rest of the world and the answer was basically ... much less.

Crude oil output has been slashed by two million barrels per day, meaning petrol is now significantly more expensive for distributers to buy.

Once suppliers' stocks that were purchased at the previously lower rate are gone, that means we'll all be paying a lot more at the pump.

A comparison service, Compare the Market's Chris Ford said skyrocketing fuel prices earlier in the year were the result of the pandemic rocking supply chain issues, including the war in Ukraine and overall shortages boosting bowser woes.

This most recent price hike however, points directly to the one crude oil conglomerate.

"But it's OPEC's latest decision to cut oil production [that] will keep prices high now," Mr Ford said.

"Demand for oil has actually been dropping off, so this decision is bound to have some bite and push up prices for us."

Evidently, that squeeze has already gripped fuel retailers across Orange, with the savings window for consumers quickly closing.

The city's highest rate of diesel fuel is currently advertising at a rate of 241.9 cents per litre at the Coles Express in Orange's CBD.

Two stations have the lowest going rate for DL, with Peisley Street's Independent Orange and Elsham Avenue's Ampol Orange Diesel Stop each advertising at 232.9 cents per litre.

The Central Western Daily contacted 7-Eleven's media team for the company's take on the latest hike, however the deadline was unable to be met at the time.

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