Gas prices hit record high in Australia

Domestic gas prices are at an all-time high all throughout Australia..

East coast gas prices surged back to record levels late last year, prompting a fresh warning that heavy industry and large manufacturers face renewed pressure as they struggle to strike more ­affordable energy tariffs.

Domestic gas prices jumped by up to 51 per cent in Melbourne last month, compared with the previous year, with Sydney rising 45 per cent, Brisbane climbing 32 per cent and Adelaide 31 per cent higher, data from consultancy EnergyQuest shows.

Users in the southeastern states are still paying up to three times historical prices of $3-$4 a gigajoule, with prices at either ­record or near-record levels for all major gas markets in the last three months of 2018, according to ­advisory firm Energy Edge.

Prices averaged $10 a gigajoule or above in the last quarter of 2018 compared with an average of $9 a gigajoule for the first three months of last year, according to Energy Edge.

Still, that may mark some sort of progress, given the Australian Competition & Consumer Commission had forecast prices to top $15 a gigajoule this summer.

Source: The Australian


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