Australia markets close in 4 hours 46 minutes

    +56.00 (+0.74%)
  • ASX 200

    +45.10 (+0.62%)

    +0.0001 (+0.01%)
  • OIL

    -0.38 (-0.53%)
  • GOLD

    +0.80 (+0.04%)

    -761.45 (-1.06%)
  • CMC Crypto 200

    -12.89 (-0.98%)

    -0.0003 (-0.04%)

    +0.0009 (+0.08%)
  • NZX 50

    +169.92 (+1.35%)

    +479.50 (+3.03%)
  • FTSE

    +107.62 (+1.49%)
  • Dow Jones

    +492.40 (+1.40%)
  • DAX

    +433.15 (+2.82%)
  • Hang Seng

    +634.28 (+2.72%)
  • NIKKEI 225

    +308.79 (+1.09%)

Fill up now: Petrol prices spike ahead of long weekend

·2-min read
Fuel up now. Source: Getty
Fuel up now. Source: Getty

Australians in Sydney and Adelaide are urged to fuel up soon, with petrol prices set to increase ahead of the October long weekend.

According to the Australian Consumer and Competition Commission (ACCC), petrol prices in Sydney and Adelaide are increasing, but if motorists shop around quickly, they should be able to find some retailers that haven’t increased their prices yet.

The average price of unleaded in Sydney bottomed on Thursday at 114.6 cents, with the average across the city now at 115.2 cents.

The cheapest fuel in metropolitan Sydney according to Petrol Spy is at Payless Fuel on Unwins Bridge Road in Sydneham, at 98.8 cents. Metro Marrickville is slightly more expensive at 98.9 cents.

In Adelaide, the cheapest unleaded id 97.5 cents in Plympton, Netley and Prospect.

According to the ACCC, petrol prices in Brisbane are at their lowest point in the cycle, so now is a good time to fuel up there.

In Melbourne, petrol prices are decreasing, but are likely to decrease further. So, if you’re in Melbourne, you should delay filling up until later.

It’s a pandemic. Do I really need a car?

When you consider fuel, registration, insurance, loan and depreciation costs, cars can see you forking out between $5,000 and $8,000 per year to run.

But with Aussies forced to stay at home, car sales are down to levels not since seen in the last two decades. In Victoria alone, sales are down nearly 66 per cent.

And with health concerns stopping Aussies from catching public transport, bike sales are surging. But that’s not the only thing Aussies are ditching cars for: there’s been a massive push towards car-sharing.

“In the last few months we have seen spikes as high as 65% higher than the same time last year, in particular driven by people in Melbourne and Sydney concerned about the spread of COVID on public transport,” Car Next Door founder Will Davies said.

“It’s a good sign, we really need to be scaling our car use back - and making use of the resources we already have.”

Are you a millennial or Gen Z-er interested in joining a community where you can learn how to take control of your money? Join us at The Broke Millennials Club on Facebook!

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting