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The price of petrol is well and truly in the spotlight again in Australia, in light of the ongoing conflict in the Middle East.
While many are quick to point the finger at fuel retailers, NRMA spokesman Peter Khoury said that oil prices, and subsequently fuel prices, were decided by factors largely outside of Australian borders.
As such, higher fuel prices are set to remain while the conflict continues to play out. It means that now, more than ever, it pays to be judicious about where you purchase your fuel from, as well as your habits behind the wheel.
Here are the NRMA's top tips for finding the cheapest fuel in Sydney.
Gone are the days of driving around in circles in search of the lowest price for fuel. Finding and comparing the cheapest fuel prices in Sydney is now made easy with the Fuel Finder on the My NRMA app.
Easily compare the cheapest petrol prices near you for unleaded and diesel fuels on your Apple or Android smartphone.
NRMA members can save up to 13c/L at participating Ampol Foodary locations*.
Regularly checking Sydney fuel prices on the My NRMA app can help save money on your annual fuel bill. Keep a lookout for special member savings for even larger discounts. Also, don’t forget to turn on push notifications to be alerted of these exclusive offers.
Each car and vehicle requires a specific type of fuel to run. Some vehicles can use several types of fuel which can affect the price you pay and the vehicle’s efficiency, particularly on long road trips.
It is also true that different types of petrol contain different amounts of sulphur content, and with the federal government this week relaxing the restrictions around sulphur content, it is prudent for motorists to ensure they are meeting the minimum standard for their engine. So if your vehicle stipulates a minimum fuel quality of 95 RON, the safest practice is to follow that guidance.
Easily compare different fuel types and prices using the My NRMA app. The main fuel types that you can find at any Ampol Foodary location includes:
According to the Australian Bureau of Statistics figures (Survey of Motor Vehicle Use, Australia ending 30 June 2020), the average fuel consumption per passenger vehicle was 11.1 litres per 100km.
Covering a distance of 20,000km a year at this consumption rate would require approximately 1,802 litres of fuel. At a cost of 155 cents per litre, a motorist could end up paying $2,793.10 per year in fuel costs. Members who make the most of their 5 cents per litre savings could save approximately $90 per year.
With hybrid variants now an option across most popular model lines, it pays to consider those too, together with electric vehicles.
Besides using the My NRMA app to find the cheapest fuel prices in your area, you can also save by refuelling when prices are low, rather than when your tank is empty. You should also pay attention to the Sydney fuel price cycles.
Then there are the simple measures you can do to save fuel each day, like ensuring your vehicle has the correct tyre pressures. You can read our extensive rundown of top fuel saving tips here.
A petrol price cycle is where the retail prices move from a low point (trough) up to a high point (peak) and back down to a subsequent low point. During these cycles, motorists can see petrol prices decrease before suddenly rising sharply. Like other Australian capital cities, Sydney’s pricing cycle has been increasing over the last few years. In 2020 the cycle ranged from a low of 19 days to a high of 53 days.
Stay up to date with the current Sydney price cycle by following the NRMA Weekly Fuel Report.
With all of that said, the influence of the price cycle has effectively been watered down following the Middle East conflict, according to Khoury.
"There is no price cycle right at the moment," he said.
"The problem is that the war started a day after Sydney, Melbourne and Brisbane were at the high point of their pricing cycle. They were meant to start falling but they didn't. The ones that charge the highest price at the peak of the cycle are also the ones that charge the most at the bottom - and they put prices up as soon as the war started, even though the wholesale prices hadn't gone up yet.
"It means the peak of the price cycle has effectively lasted two and a half weeks."
