The analysis on the Australian petroleum industry shows that there were six days in the last six months when petrol prices were at their peak - and the ACCC says if motorists didn't buy E10 fuel on those peak price days they could have saved an average 2.6 cents per litre in Sydney.
Assuming similar savings for the other types of petrol (i.e. regular unleaded petrol and premium unleaded petrol), the estimated overall savings for Sydney motorists over a year would be in the region of $85 million.
“Motorists who fill up weekly can make substantial savings by avoiding the six most expensive days in the price cycle,” ACCC Chairman Rod Sims said. “Motorists that can fill up less frequently, however, and therefore buy petrol when prices are falling can save much more.
“For example, avoiding buying petrol on the 10 days around the price cycle peaks would see motorists save 3.8–6.1 cpl in the capital cities. This would see annual savings of $141 million in Sydney, $124 million in Melbourne, $68 million in Brisbane and $55 million in Adelaide.
Fuel apps can help you save
For those seeking to save money a little effort can see large savings,” Mr Sims said. "Our advice for those looking to save even more, say 15–20 cpl, or $9–12 a tank, is to time your purchases.
“Use fuel price transparency apps or websites to find the most competitive fuel price near you. There can be significant price differences between sites at different points in the price cycle, so motorists that shop around can save themselves a lot of money.”
It pays to check the my nrma app for real-time fuel pricing each time you need to fill up. Real-time fuel prices are available for all fuel types and for all service stations located within NSW.