The introduction of real time fuel pricing has proven a winner at the bowser for motorists, who have saved $11 million dollars according to RACT.
The initiative from RACT and the state government began last year as a measure to lower fuel prices across the state.
RACT chief member experience officer Stacey Pennicott said that the situation was a win-win.
“We started costing the price of fuel and what we saw was motorists were paying up to 50 cents per litre more than they should have been,” she said.
“On the back of the introduction of real time fuel pricing is that now motorists are paying much less at the bowser in terms of the differential between what the fuel retailer is buying fuel in for and what the motorist is paying.”
Australian Institute of Petroleum figures show the average price of unleaded petrol in Tasmania in February was 130.3 cents, slightly lower than the national average of 131.2 cents.
The RACT figures indicate that the introduction of the fuel pricing initiative has saved motorists $11 million dollars with $4.6 million of that figure has come since December.
“Since December we have seen unleaded fuel has dropped down under the differential that are RACT thinks it is the right price to be,” she said.
“The cost of fuel is an everyday item that everybody uses and so it really impacts everybody’s back pocket. The savings that people make in fuel directly come back to the Tasmanian economy.”
Building minister Elise Archer confirmed earlier this week that the government would continue to monitor fuel prices.
Extracted in full from: https://www.theadvocate.com.au/story/7175928/motorists-major-winners-at-the-fuel-station-with-real-time-pricing/?cs=87