Fuel prices did not just hop, but hurdled an average of 20 cents across Inverell in the past few days. Local resident Warwick Bedford said it made him so annoyed, he had to do something about it.

“It is a shock, and it’s unjustified and I’m totally amazed there hasn’t been a stink about it,” he said.

Prices leapt across Inverell, with fuel watchdog site motormouth.com.au reporting Coles Express and Caltex in Otho Street charging 145.9 cents/litre on Thursday morning, to the lowest costs of 134.9 cents/litre at Liberty stations and 130.8 cents/litre at the Byrons Street Shell station.

The sticker shock set in when he visited his local servo early this week. 

“I drove past like on Sunday night, or Monday night, and the price was like $1.24.9, and then I went back the next day when I had some money to fill up, and it’s $1.45.9, and I (thought), ‘You have got to be kidding’,” Mr Bedford said.

He enquired with that attendant and they said the Coles station had already raised their prices, and they were instructed to put theirs up as well. Mr Bedford said he did some research after he recovered from the shock, and said he understood Saudi oil market was planning limited production for February to some Asian countries

Fairfax reported on January 6 in the Australian Financial Review the Organisation of the Petroleum Exporting Countries (OPEC) had agreed to slash production in the first half of this year in an effort to “reduce global oversupply and prop up prices”.

It further stated a Saudi oil corporation was considering cuts of up to seven per cent in February for crude loadings. Mr Bedford argued the last time consumers paid the current costs, oil prices were at $120 per barrel.

“Look at it right now, it’s about $50-something; it’s less than half the cost and we’re back up paying the same price. You tell me who’s getting ripped off? We are getting ripped off mate, big time. Ok, the oil companies are getting a three weeks shot at putting the price up 20 cents a litre, which is really, really predatory pricing at its worse.”

Mr Bedford is a pensioner, and said the new cost would affect his life.

“Absolutely. It’s sort of blown the budget,” he said. “Hopefully the government will put the pension up by the same amount to cover it, it’s just so frustrating.”