Survey reveals rising fuel costs force change in driving habits.
A nationally representative survey commissioned by Savvy at the end of 2023 has shown that a little over a third (34%) of Australian adults (n=1,000) are spending between $31-$60 on fuel for their vehicles, per week.
“21% said they were spending between $61-$90; 13% said they were spending between $91-$120. 6% were spending between $121-$160, with 16% saying they’re spending between $1 and $30.
“10% of those surveyed did not own a vehicle.”
The national average petrol retail price in 2023 was 189.8c per litre, according to the Australian Institute of Petroleum. “This represents a 77.8% increase over the previous high of 148.8c per litre in 2021. The average price in 2022 was 184.2c per litre.
“This may indicate Australians are no longer filling up their tanks each week, with a mere 8% of Australians saying it cost between $31-$60 to fill up their tank when polled in 2022.
“33% said it cost between $61-$90 to fill up their tank, with a further 33% saying it costs between $91-$120.”
From 5 February 2024, the fuel excise on petroleum condensate (petrol) and diesel will increase from 0.488c per litre to 0.496c per litre.
Discounts at the bowser or the bus stop
“When asked what Australians would do if fuel prices stay at these record highs or even increase, 43% said they would drive less, 37% said they would look for discount outlets using apps, and 26% said they would use public transport more frequently.
“22% said they would absorb the increase. These sentiments were almost equal among men and women. 46% of 18-24s said they would use public transport more often, compared with only 19% of 35-44s, who may have small children who rely upon mum and dad to drive them to after-school activities.
“7% said they would consider purchasing an electric vehicle (7% of men, 6% of women.)”
Savvy spokesperson Bill Tsouvalas says fuel prices are a primary driver of household budget inflation. “If you’ve driven anywhere in Australia, you see a bumper sticker on the back of semi-trailers – “without trucks, Australia stops.” That also means with any price increase in fuel, that increase will be passed on in higher prices for most, if not all wholesale and retail goods. Any more pain at the bowser will continue to permeate every facet of Australian economic life, putting more pressure on families and individuals.”
In a similar survey, 62% of Australians cited food security as their greatest cost-of-living concern.
