Fuel Crisis

Despite surging global oil prices, Australians say they’re spending less on fuel. On average, Aussies spent $55.98 filling their car each week, equal to $242.58 a month or $2,910.96 a year – down $25.48 on 2025.

Fuel is a more flexible household expense compared to fixed costs like insurance premiums. Many drivers can control their spend by reducing their time on the roads, carpooling, and taking public transport.

Fuel excise cuts have also helped shield motorists from some of the worst price shocks.

Nearly a third (31%) of drivers say they’ve used fuel comparison apps to look for savings.

Petrol prices can vary significantly across Australia due to fuel pricing cycles, local competition and broader economic factors. According to the ACCC, prices in major cities typically follow a cycle where prices gradually fall before rising sharply again.

Retailers set their own prices, which means motorists can often save by comparing local fuel prices and timing their fill-up.

Key factors influencing fuel prices include:

• Global oil prices: Higher crude oil prices generally increase wholesale fuel costs.
• Exchange rates: A weaker Australian dollar can make imported fuel more expensive.
• Fuel excise: The Federal Government’s fuel excise is incorporated into the price motorists pay at the pump.

For many households, understanding local fuel cycles and shopping around for cheaper fuel can help reduce annual transport costs.

Motorists were hit with a double whammy when the first fuel price shock struck just as regular fuel-price cycles were peaking across the country.

Compare the Market tracking shows the national average price of Unleaded 91 peaked at $2.58 a litre during the crisis.

Prices began falling after a temporary halving of the fuel excise took effect. It took until 21 April for the national average price to fall below the painful $2-a-litre mark.

When the excise cut ended in full at the start of August, the average price once again exceeded $2 a litre.

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• Our Simples app
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• What’s the best fuel for your vehicle?