Annual transport costs in Sydney have reached a record high of over $22,000 at the same time as Sydney petrol prices hit the highest they have been in two years.
The quarterly report conducted by the NRMA and its sister clubs through the Australian Automobile Association (AAA) showed Sydney families spend the highest amount on transport in the nation at $22,350 per annum, or one third of the average income in NSW ($62,500).
Sydney was ranked third most expensive city after taking into consideration average wages.
According to the report, causes for the increases over the last quarter include car financing, tolls and fuel. Average prices for regular unleaded in Sydney are now the highest they have been since October 2015, at $1.41 cents per litre for regular unleaded.
NRMA Chairman Kyle Loades said the NRMA was committed to reducing the cost of transport for families and encouraged the community to take advantage of the fuel and parking functions of the my nrma app to find the best deals.
“The my nrma app provides real-time data for every service station in NSW. It also identifies service stations that buck the trend and sell regular unleaded for up to 20 cents less than the average price,” Mr Loades said.
“By using the my nrma app and filling up at those cheaper service stations, it will help families save hundreds of dollars a year.”
The report also reflected the fact that some insurers have started reducing CTP prices ahead of changes to the scheme brought about by the NSW Government’s reforms. The reforms are expected to save Sydney motorist’s on average $180 a year.