The NRMA has poured cold water on claims petrol prices could surge to $3 a litre by the end of the week.
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"If you look at wholesale prices in Australia today, yes they are at record highs," the NRMA's Peter Khoury said.
"But they certainly do not justify service stations charging $3 a litre or anywhere near that. While we are bracing ourselves for record high prices, there is nothing to suggest that petrol prices would get to $3."
The motoring body also did not support calls to slash the federal government's fuel excise as a means to alleviate pressure on prices.
"The excise is there to raise money to pay for roads, to provide the financial support to state governments and local councils so they can maintain a safe and world-class road network," Mr Khoury said.
"We can either have funding for roads or we can cut the excise but we can't have both."
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