Drivers across the country are bracing for whiplash at the bowser with the price of fuel set to suddenly spike in a matter of days.

Fuel costs have been rising all month following the collapse of the ceasefire in Iran, and will be supercharged by a double blow of expiring fuel excise relief and inflation.

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The Albanese Government has reduced excise in recent months to ease price pain at the bowser, but that ends on Sunday night, when the return of the full tax will add more than 16c to a litre of fuel, on top of an extra 1.5 cents in a twice-yearly increase for inflation.

Tracking by MotorMouth showed the average cost of unleaded across Sydney at $1.87/L on Monday evening.

If prices rise or even hold, motorists can expect to pay more than $2/L by next Monday.

Fuel costs have been rising all month. Credit: 7NEWS

It’s even worse news for diesel drivers, where prices are already averaging $2.28/L.

Unleaded prices have already soared 35 cents a litre since the start of the month, while diesel is up 50 cents.

The federal government said continuing the fuel excise relief was not in its plans after already extending the cut once.

Taxi drivers and farmers say fuel costs are already eating into profit margins, and consumers will pay the price.

NSW Farmers Association representative Paul Shoker warned that “returning back to normal with normal pricing will take longer, the recovery will take longer”.

The NRMA has also spoken out, saying there had been no evidence of price gouging at the pump.

NRMA’s Peter Khoury said “the oil companies have been doing the right thing, so please don’t panic buy”.

The federal government is continuing its hunt for fuel across the globe, signing a new petrol supply agreement with Singapore, with Foreign Minister Penny Wong saying “in times like these, friends you can trust are so important”.

The NRMA says there has been no evidence of price gouging at the pump. Credit: 7NEWS