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Easy way to save $800 a year on fuel, as excise cut ends

BP petrol station and Australian money
The temporary fuel excise cut ends at midnight tonight. Petrol prices are set to soar by 25 cents per litre. (Source: Getty)

Motorists are bracing for more pain at the bowser, as the government’s fuel excise cut comes to an end. But there’s one simple way you can save.

The fuel excise was halved in March this year to tackle the rising cost of living, but the temporary relief will end at midnight tonight.

The Australian Competition and Consumer Commission (ACCC) is expecting prices to increase by 25.3 cents per litre when the cut ends.

NSW Treasurer Matt Kean said motorists may be able to save up to $800 a year, or up to $10 a tank, by using the NSW government FuelCheck app.

“Prices can vary greatly between petrol stations so if you’re filling up a 50L tank and there’s a 20 cent difference between service stations, you’d save $10 by filling up at the cheaper one,” Mr Kean said.

Driving a couple of hundred metres down the road to a cheaper servo can really pay off and boost your budget.

Other governments offer similar apps including FuelWatch (WA), MyFuel NT and FuelCheck TAS.

There’s also independent apps on offer, including Motormouth, Fuel Map and Petrol Spy, plus apps and comparison tools from motoring organisations like NRMA, RACV and RACQ.

How much will petrol increase?

Motorists can expect to pay roughly $15 more to fill up a 60-litre tank with petrol when the cut ends.

Last week, petrol was averaging about $1.79 a litre in Sydney, $1.80 a litre in Melbourne and $1.85 a litre in Brisbane, according to the Australian Institute of Petroleum.

“We expect that there will be no uncharacteristic or abnormal retail price increases in the days leading up to, on the day of, or after the reintroduction of the full rate of fuel excise,” the ACCC said.

The competition watchdog said it will be monitoring wholesale and retail prices closely.

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