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Petrol prices to soar 25c per litre: Here’s how to save

·Personal Finance Editor
·2-min read
A sign at a petrol station displaying high prices and Australian money.
Petrol prices are expected to skyrocket next week. (Source: AAP/Getty)

The fuel excise cut is set to end next week, with petrol prices tipped to soar.

And with cost-of-living pressures already weighing on Aussie households, the end of the fuel relief is coming at a tough time.

Motorists can expect to see a spike of 25 cents per litre to their petrol bill, according to Finder.

Finder's Consumer Sentiment tracker found a significant number of Australians were struggling with the cost of petrol.

The research found almost a third (28 per cent) listed petrol as one of the expenses causing them the most amount of stress.

This was up from 13 per cent in September 2021, but down from 34 per cent in July 2022.

The average price of fuel for E10 / Unleaded 91 in New South Wales is 171.1 cents per litre - up from 160.3 cents per litre a week ago.

The March 2022 Federal Budget, forecast Australian motorists would pay more than $13.9 billion in net fuel excise this financial year, and $62.5 billion over the next four years.

Finder money expert Sarah Megginson said fluctuating prices were putting a lot of strain on Aussie households.

“Many Australians are dreading filling up at the pump and, with the fuel excise set to end in a week, now is the time to grab cheaper fuel while it’s still available,” Megginson said.

“If you've ever filled up the car and then driven past a service station 10 minutes away with a much cheaper price, you'll know it pays to shop around.

“Luckily, there are plenty of apps that do the legwork for you.”

Megginson said, depending on where you were, you could get a government app, such as the NSW Fuel Check app or WA's FuelWatch.

“There are also plenty of independent apps such as MotorMouth and FuelPrice Australia, plus some options through existing apps for brands, including NRMA and 7-Eleven,” she said.

Megginson encouraged motorists to plan ahead before the fuel relief ended.

"You definitely don’t want to wake up in the morning when the excise returns to normal with an empty tank,” she said.

“Plan ahead and fill up now while you can, ahead of the September 29 changeover.”

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