Like all other centres around Australia, Bendigo motorists had been paying more than $2 a litre for unleaded petrol earlier this year.

The city broke through the $2 barrier heading into the weekend of March 12-13 and prices quickly rose towards the $2.10 mark.

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The record-high petrol prices prompted the federal government to slash its fuel excise by 22 cents a litre for six months in its March 29 budget.

It had an immediate effect, with the price of unleaded fuel plunging to as low as 159.9 cents a litre in Bendigo within a matter of days.

However, unleaded fuel has crept back up in recent weeks with some outlets now selling unleaded petrol for as much as 183.9 cents a litre at several Bendigo outlets on Thursday.

Tightening sanctions on Russian oil over that country's invasion of Ukraine is having an impact on world oil prices.

However, that is being counterbalanced by the ongoing lockdowns in Shanghai to contain a COVID-19 outbreak.

It means there is less demand for fuel in China, which should drive oil prices down, but combined with the Russian situation it is creating wild volatility on world markets.

The price of unleaded fuel in Bendigo could again hit $2, even before the fuel excise returns to its original levels in September regardless of who wins the May 21 federal election.

It all comes as The Australian Automobile Association released a report stating the average household's weekly transport cost is more than $400 in capital cities and $330 in the regions.

Transport spend includes loan payments, fuel, tolls, insurance, servicing, registration, CTP and licensing, roadside assistance and public transport.

While fuel costs are up, car loan repayments are down, which the AAA attributes to consumers increasingly choosing cheaper vehicles.

Sydney is still Australia's most expensive capital city for transport costs averaging $474.43 per week, followed by Melbourne ($447.83) and Brisbane ($445.69)

Bunbury is Australia's most expensive regional city for transport at $352.06 followed by Alice Springs ($350.45) and Geelong ($347.69).

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