How to Reduce Petrol Spends | Compare The Market

News: How to Reduce Petrol Spends | comparethemarket.com.au

 
 
 
 
 

With petrol prices hitting a 10-year January high this month – and tipped to stay that way – Australians, now more than ever, need to be aware of where they’re topping up and when.

Grant Waldeck, spokesperson at leading comparison website comparethemarket.com.au, which offers free petrol-price comparisons Australia-wide, says: “Petrol makes up a large part of household budgets. With Australians also being slugged with an average 6.2 per cent increase on their private health insurance from April, 2014 might not be a good year for household budgets – unless you know how to shop around and compare prices. Now is the time when households need to develop a plan for minimising those costs.”

Grant says some motorists will be paying higher prices than others, depending on the area they are in. “Comparethemarket.com.au has highlighted the sub-regions in the major cities where drivers may or may not be paying as much in unleaded petrol (ULP) – where the competition is more intense – than the rest of the city. These city subregions have offered the highest or lowest unleaded petrol prices over the last six months.”

Which areas have offered the lowest and highest ULP prices in the last six months?*

City Period (2013) Subregion with lowest ULP average Sub-region ULP average (over listed period)
Sydney July & August Hurstville 149.2
September Penrith 148
October & December Blacktown 147.1
November Bankstown 142.3
Melbourne July Essendon 148.7
August-December (inclusive) Frankston/Cranbourne (incl. Vermont in Sept) 145.7
Brisbane July-September (inclusive) North West 150
October Bayside 148.8
November South West 145.6
December West 153.6
Adelaide July & August West Torrens 148.6
September Noarlunga 147.2
October & November Port Adelaide 144.1
December Burnside 150
Perth July, August & November Freemantle 148.2
September-December (inclusive) Warwick 146.7
City Period (2013) Subregion with highest ULP average Sub-region ULP average (over listed period)
Sydney July Eastern Suburbs / Northern Beaches 156.9
August & November Eastern Suburbs 149.4
September Lower North Shore / Northern Beaches 151.9
October & December Lower North Shore 153.1
Melbourne July & August Greensborough / Ivanhoe 151.3
September & October City/South Melbourne (incl. Moorabbin in Oct) 148.3
November & December Moorabbin 146.9
Brisbane July-October (inclusive) West 153.7
November & December North 151.9
Adelaide July-December (inclusive) Elizabeth 148.9
October Brighton / Mitcham, Burnside & Noarlunga 148.5
Perth July, September & December Claremont / Cottesloe 152.4
August-November, inclusive (incl, Spearwood in November) Lesmurdie / Midland 149.2

* Original data supplied by MotorMouth Pty Ltd

Grant says on any given day, any area within a city can show the lowest daily unleaded average. “Price-conscious motorists need to seek out the cheapest service stations – they need to determine both the when and where to buy to get the best deal. While motorists are ‘creatures of habit’ and prefer to stick to the few petrol stations that they know of when shopping for petrol, an increasing number of Australians are doing their research online.

Who most actively compares petrol prices – and when?
Comparethemarket.com.au’s analysis of its petrol price comparisons shows that Sydneysiders research most for fuel prices, followed by Gold Coast, then Brisbane and then Melbourne. Most comparisons for petrol prices are carried out on a Tuesday, then Monday and steadily drop off after that up until Sunday (with about 50 per cent fewer searches by Sunday).

“The findings suggest most motorists still believe the cheapest prices are offered on Tuesdays. This is no longer the case. The one-week price cycle has now turned into longer cycles – varying from 10-22 days – in most cities.”

Comparethemarket.com.au’s top 6 tips for locating the cheapest fuel in your area

  1. ‘Cheap Tuesdays’ no longer exist. Petrol stations in most cities follow a cycle of 10-22 days, offering low prices for two-to-three consecutive days within those cycles. “The key to filling up on a cheaper day is to keep an eye on petrol prices in your area and identify the trend,” Grant says.
  2. Prices typically peak right before public holidays. By researching ahead of time and filling up several days before the public holiday, you stand to save a few cents per litre.
  3. Try to avoid filling up when your car is less than a quarter full. A tank at least a third full will give you a few days to ‘shop around’ for a reasonable price.
  4. Air-conditioning, low tyre pressure and excess weight all increase fuel consumption. While it can be a challenge in summer, try to use air-conditioning sparingly. Keep your tyres inflated to their optimal level and avoid driving around with excess weight in the boot.
  5. Be aware of your driving habits – keeping the engine running when you’re parked for longer periods, and accelerating and braking suddenly (such as over speed humps), will consume petrol more readily.
  6. Bookmark free web pages that regularly update fuel prices in your area. For instance, comparethemarket.com.au is a free service that updates fuel prices in every Australian city three times a day, shows historical prices for all petrol stations listed, and places them on Google maps. You could end up saving yourself a good deal of money throughout the year.

For interviews and more information, please contact:

Suzanne Colville | 0406 050 381 | 02 9279 3330 | e: scolville@theideassuite.com.au  

Author comparethemarket.com.au

Launched in September of 2012, Comparethemarket.com.au – operated by Compare the Market Pty Ltd (CTM) – has teamed up with a range of Australia’s insurance providers so you can compare some of the latest deals, in one place, side-by-side. The team behind comparethemarket.com.au have experience in insurance, comparison, customer service and digital. If this was a stuffy corporate monologue, we’d tell you that we’re a bunch of subject matter experts specialising in User Experience, Customer Insights & Online Strategies. But to be honest, it’s just as accurate (and a whole lot easier) to say that we’re a bunch of people who want to make your experience with online comparison better. We pride ourselves on the fact that we’re forward-thinking, that we share an entrepreneurial spirit, and the fact that we like to have a bit of a laugh too. We’re all a bit too addicted to chocolate, but no one’s perfect, really.

More posts by comparethemarket.com.au

On this website you can compare quotes and purchase products from participating brands for health insurance, car insurance, travel insurance, life and income protection insurance, home and contents insurance, energy plans, roadside assistance products, home loans and credit cards.

We do not compare all products in the market and at times not all brands may be available. Visit each product page, as well as our Website Terms of Use, Financial Services Guide (Car, Home and Travel Insurance Products), Financial Services Guide (Life Insurance Products) and Credit Guide for detail about who we compare, how we make money and how our comparison service works for each product.

The Compare The Market website and trading name are owned by Compare The Market Pty Ltd ACN 117 323 378.