A new report on Australia’s fuel industry has found petrol price cycles have lengthened in the largest capital cities, causing motorists to pay higher costs at the bowser.
According to the NRMA Makes Cents of Fuel report, Sydney, Brisbane and Melbourne price cycles have grown longer over time and now range from 11 to 68 days.
Service stations are selling fuel at the top end of the price cycle for longer and drivers in those cities are paying more on average for petrol than in Perth, Adelaide, Darwin and Hobart.
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Many regional towns in New South Wales, such as Newcastle, Queanbeyan, Albury, Bathurst, Dubbo and Port Macquarie, have a cheaper average petrol price than Sydney, the report found.
The average family in Sydney is now spending almost $5,400 filling up every year.
Earlier this month, the NRMA launched a new program through their app to help Australians save money at the pump.
NRMA spokesperson Peter Khoury said giving Australians a detailed understanding of the nation’s relationship with fuel and in particular the fuel price cycles, which are unique to Australia, would ultimately help them save money at the bowser.
“Understanding fuel is more important than ever as the nation struggles with inflationary pressures and the budgets of Australian families buckle under the strain of volatile and fluctuating fuel costs – addressing this challenge is a major priority for the NRMA,” Khoury said.
“The longer price cycles in Australia’s largest cities have left Australians living there exposed to higher prices, however if we can help families navigate their way around these cycles we can help them save hundreds of dollars a year.”
The NRMA report also showed sales for premium fuels have risen while the cheapest petrol types – E10 and regular unleaded – have fallen in popularity.
Over the last year in NSW, sales of E10 have fallen by 51 per cent and regular unleaded by 13.1 per cent, while premium fuel sales rose 18.8 per cent over that time.
Khoury said this trend showed many drivers were wasting their money.
“Many light vehicles in Australia can run on E10 so of growing concern to the NRMA is that too many motorists are paying significantly more at the pump – on average almost 25 cents per litre more – for fuel – without receiving any perceived benefits,” he said.
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