While the need for Aussies to use their cars may have drastically reduced in recent weeks, people are still looking for simple ways they can cut expenses now more than ever.
Shopping around for the cheapest petrol in your area can be a good way to reduce costs and comparethemarket.com.au’s analysis shows that petrol prices across the country have been falling, which is good news for motorists who are looking to save some cash during this unpredictable time.
Comparing fuel prices from home before you fill up is something I’d advise, using free comparison apps such as comparethemarket.com.au’s Simples Fuel. But with prices varying from state to state, here’s where you’re likely to find the cheapest fuel as the country heads into the Easter weekend.
Sydney motorists paid 9 cents per litre (cpl) less on fuel in the March quarter, at 140cpl on average. The Inner South-West region had the lowest prices recorded, at 135cpl, while Sutherland had the highest average price, at 146cpl. Fuel prices in Sydney are nearing the bottom of the current price cycle and may linger for a few more days, so motorists can safely fill up now or even wait a few more days before they can expect prices to rise.
It’s suggested that motorists compare petrol costs daily as some fuel retailers are lowering costs in the evening and then raising them again in the morning. Before heading out to fill up, check the price first. As of Monday morning, the most expensive place to fill up was at Umina Beach at 138cpl and the cheapest was at South Granville at 87cpl.
Over the March quarter, motorists were paying an average of 139cpl at the bowser – 12cpl less than the previous quarter. Darebin North was the sub-region with the lowest price over the quarter (135cpl), while the Nillumbik-Kinglake sub-region had the most expensive fuel, at 145cpl. As of Monday morning, the cheapest Melbourne suburb for petrol was Moorabbin Airport, with an average of 89cpl.
Interestingly, prices are currently more than 30cpl lower than they were at the peak of their previous February cycle. With prices likely to continue falling over the next few weeks, motorists are being advised to hold off as long as possible, as it’s predicted that costs will fall each day they wait. As Melbourne fuel retailers are also recording a wide range of prices, motorists are encouraged to shop around, but to avoid travelling further than their local area to fill up.
Brisbane motorists paid the second highest price for petrol in the country over the last quarter, at an average of 141cpl. However, this is still 11cpl lower than the average price in the previous quarter. Currently, petrol prices in Brisbane are nearing the bottom of a long and lower cycle for the city. The suburb recording the cheapest price average as of Monday morning was Wilston, at 100cpl, while Kilcoy had the most expensive suburb average, at 125cpl. Ipswich was the sub-region with the lowest fuel prices over the quarter, at 139cpl, with Brisbane West recording the highest (142cpl).
Brisbane motorists may have seen very few retailers offering big discounts on petrol, but with prices falling as part of the cycle, it’s advised that they wait as long as possible before filling up. It may be a week or more before prices start rising again.
Not only did Adelaide motorists pay the second-lowest prices for fuel over the March quarter – an average of 134cpl – they saw the most significant price drop (16cpl) from the December quarter compared to any other city. Petrol prices in Adelaide have also been the lowest in the country over the past month, often under 100cpl. On the morning of Monday 6 April, the inner-city suburb of Richmond had the lowest suburb price average recorded, at 83cpl.
However, for motorists looking to fill up this week, prices are now past the top of the current price cycle, and higher than they have been in the past few weeks, but will ease for several weeks to come. Each day motorists wait to buy petrol will save them money at the bowser.
In the March quarter, the city with the cheapest petrol in the country was Perth, averaging 132cpl and 13cpl less than the previous quarter. Perth’s South-West region had the lowest average petrol over the quarter (131cpl), while the most expensive region – Perth’s Inner Region – was 3cpl higher. Petrol prices on Monday were at the bottom of the cycle, and sitting at historic lows, with Manning recording the cheapest petrol cost (90cpl) on the morning of Monday 6 April.
If motorists need to fill up this weekend, comparethemarket.com.au recommends they shop around to find the lowest prices in their area, as prices are starting to increase. For those who live near the newly opened Costco at Perth Airport, petrol bargains can still be found midweek.
Canberra took the position for the most expensive petrol in the country over the March quarter, with motorists paying 143cpl, on average. Petrol prices in our capital city have been falling slowly over the past two months – from 146cpl to 133cpl on average – but won’t drop much lower. On Monday, the suburbs where the cheapest petrol could be found were Giralang and Nicholls, each at 122cpl on average.
Comparethemarket.com.au expects prices will continue to drop over the next few weeks. It’s likely that Canberrans will continue to see low prices at the bowser.
IMPORTANT LEGAL INFO This article is of a general nature and FYI only, because it doesn’t take into account your financial situation, objectives or needs. That means it’s not financial product advice and shouldn’t be relied upon as if it is. Before making a financial decision, you should work out if the info is appropriate for your situation and get independent, licensed financial services advice.