As petrol prices soar above the dizzying highs seen earlier this year, one simple tip could mean big savings for Australian drivers.
A simple trick could save drivers up to 40 cents a liter on fuel as the country’s sky-high petrol prices continue to soar.
Unleaded fuel at some Brisbane filling stations cost up to $2.24 a liter this week, up $0.03 a liter from Queensland’s previous record high in March.
It comes as other major capitals are experiencing similar headaches, with unleaded fuel reaching prices of up to $2.26 a liter in Sydney, $2.25 a liter in Melbourne, $2.24 a liter in Adelaide and $2.09 per liter in Hobart.
The message to consumers from experts like Chris Ford, spokesperson for Compare the Market, is to always check fuel cost tracking websites and apps for the best deals, as prices can vary widely between fuel costs. one service station to another.
“You could be overpaying for your fuel, so your best bet is to do your homework and use fuel comparison apps to find that cheaper fuel,” Ford said.
“Very often it could be a suburb or a street.”
He said there were discrepancies of almost 40c per liter in Sydney due to the city’s position in the fuel price cycle.
“The best thing to do is shop around, it really depends on where each city is in the price cycle,” Ford said.
“These spreads are at their maximum when these new high prices hit the boards. In Sydney and Brisbane, where these record prices are observed, motorists have a very small window to find cheaper fuel.
“Just this morning I saw fuel marked (in Sydney) at $1.85 for 91 unleaded, with the top price at $2.24. That’s almost a 40c a liter difference.
He said that although the gaps in Melbourne, Adelaide and Perth were smaller, drivers could still save 10-15 cents a liter if they looked around.
A brief reprieve was experienced when the coalition government halved fuel excise duties for gasoline and diesel in this year’s federal budget.
The average gasoline price dipped to $1.60 a liter in April, but has since surged and surpassed the exorbitant prices of March.
But Mr Ford said current prices would be even higher without the excise duty reduction.
“These are extraordinary awards at a time when we are all feeling the pinch in our pockets,” he said.
“Oil prices are just below the highs reached in early March before the excise halving. It’s just staggering to think that these prices without the excise halving could be close to 2 $.50 per litre.
The six-month cut was introduced to deal with volatility in the gasoline market after Russia’s war in Ukraine affected supply.
The newly elected Labor government has previously confirmed it will not extend the fuel excise duty cut when it ends in September.
“We have clarified our position and we have no intention of changing that, there are other ways to meet the cost of living,” Deputy Prime Minister Richard Marles told Sunrise in late May.
Some of these cost-of-living measures will be introduced in the October budget, although Anthony Albanese has not ruled out more immediate relief.
“Some measures are in place to alleviate some cost of living pressures, and they are short-term. This is what the former government put in place with our support in terms of budgetary measures,” the Prime Minister said on Thursday.
“We will, of course, always consider what can be done, but there is a fiscal context here (and) we will be economically responsible as a government.”
But in the meantime, Mr Ford warned there ‘could be more pain to come’ as oil prices are expected to rise.
“We have seen Goldman Sachs and others forecast that oil could hit $150 a barrel. It is currently trading at around $123,” he said.
“So it looks like there could be more pain to come.”
It all comes before the Queen’s birthday long weekend, with petrol prices historically known to rise during the bank holidays.
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