Sydney crowned most expensive city when it comes to the price of fuel
By Sourced Externally
June 10, 2021
It has long been known Sydney is the most expensive city for property, but now residents’ wallets have been dealt another blow.
The NSW capital has been crowned the priciest for fuel.
According to the Australian Automotive Association’s Transport Affordability Index, Sydney households spend about $3364 a year on fuel, followed by Hobart ($3318), Melbourne ($3314), Brisbane ($3304), Canberra ($3218), Perth ($3124), Darwin ($3064) and Adelaide ($3012).
But it’s not all bad news.
Finder analysed Australian Competition and Consumer Commission (ACCC) data that revealed drivers in Sydney could also save the most by switching from high to low-priced petrol retailers.
Australian motorists could have saved $485m last year by making the switch, including an average of $445 for Sydney residents.
This is followed by a saving of $330 for Adelaide residents and $317 for Melburnians.
The ACCC report found Sydney had the largest difference between the cheapest and most expensive retailer at 17.1 percentage points.
Australians are growing more concerned about petrol prices, with 14 per cent saying the cost of fuel is their most stressful expense – the highest figure since before the Covid crisis.
This is likely because more Australians are driving to work again and spending more on tolls and petrol.
There are several steps drivers can take to save on petrol costs, including using apps that compare the price of fuel at stations nearby.
“Even just a few cents per litre can make a sizeable difference over the course of a year – just make sure you aren’t driving too far out of your way to get it as that defeats the purpose,” Finder insurance specialist Taylor Blackburn said.
“As well as saving on petrol and registration, cheaper cars will typically cost you less in car insurance premiums.”
The comparison website said some drivers could be spending up to 133 per cent more than they need to annually on their car.
Those driving smaller cars, who have a good insurance deal, spend about $3413 each year, while those driving large cars typically spend more on insurance, fuel and registration and will be out of pocket about $7963 annually.
“As Australians, we are obsessed with our utes and SUVs, but the truth is they might be costing us more than we think,” Mr Blackburn said.
Larger cars can consume substantially more fuel per year than smaller cars, and in most states vehicle registration and insurance will cost more too.”
Sydney’s cheapest petrol retailer is Speedway, while BP was listed as the most expensive in both Sydney and Melbourne.
Metro Petroleum was the cheapest in the Victorian city, while Coles Express was listed as the most expensive in Brisbane and Canberra.
United was the most affordable in Brisbane, Hobart and Adelaide, while Caltex was the priciest in the latter.
Vibe in Perth was considered the best on the wallet and BP as the most expensive.
Darwin’s Fuel Express was the most cost-effective for drivers.