Bowser blues: Petrol prices soar to $1.68 per litre

Posted: 10 December 2021 11:59 am
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A growing number of Australians are battling with the soaring price of petrol, according to Finder.

Finder research shows 14% of Australians – equivalent to over 2.7 million people – rated petrol as one of their top money stresses in November.

This has risen from 11% in July.

Finder analysis of petrol prices found motorists are paying an average of $1.68 per litre across Australia – 17% more than the average of the past 12 months ($1.43).

Those in the Northern Territory are spending the most at the bowser ($1.77).

Kate Browne, personal finance expert Finder, said Aussie drivers are having to take drastic measures to reduce spending on fuel.

"As petrol prices skyrocket in the lead-up to Christmas – drivers are increasingly alarmed at the price of filling up.

"Fuel prices in metro areas are typically more expensive on average, with petrol prices reaching highs of about $1.90 on average in some service stations in Sydney.

"Australians are telling us that this increase in prices is going to impact a lot of families during these school holidays and may put an end to some of those planned road trips this summer."

Browne says that with petrol prices sitting so high it's more important than ever for Australians to shop around for the cheapest fuel and leave the car at home when possible.

"Taking the time to find which petrol stations have the lowest prices can help you save quite a lot – there's often quite a big price difference between the cheapest servo and most expensive even in the one neighbourhood.

"Use the apps that show where the cheapest fuel is in your area as these are updated regularly and can mean a price difference of up to 40 cents per litre.

"If you're in the market for a new car, it will pay off in the long term to look for a model that has the best fuel efficiency," Browne said.

Previous Finder research has found almost 1 in 2 Australian drivers (45%) would consider an electric or hybrid vehicle for their next car.

"Many Australians are becoming increasingly climate-conscious, and drivers see EVs as a way to lower their carbon footprint.

"While electric vehicles are still more expensive to buy outright than petrol cars, as manufacturing costs fall they are becoming much more affordable and we are seeing more Aussies looking to make the switch than ever before," Browne said.

Retail petrol price trends (as at 05/12/21)

Weekly averageWeekly changeLowHigh
National average167.9-2.5166.5169.4
NSW/ACT169.56.4165.6173.2
Victoria164.4-10.3160.2170
Queensland173-6.3168.9178.2
South Australia156.6-12.6148.1168.1
Western Australia167.12.6154176.5
Northern Territory177.10177.1177.1
Tasmania177.2-0.1177.1177.3
Source: Retail Petrol Price Trends Across States/Territories Week ended 5 December 2021 'NATIONAL AND STATE' AVERAGE PRICES (cents per litre $A)

How much could you save by comparing insurance policies? Visit Finder's Car Insurance hub to find out.

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