Petrol prices a top stress for consumers

A growing number of Australians are concerned about the price of petrol, according to research from Finder.

The research shows 14% of Australians – equivalent to over 2.7 million people – rated petrol as one of their top money stresses in November. This has risen from 11% in July.

Finder Personal Finance Expert Kate Browne says Aussie drivers are having to take drastic measures to reduce spending on fuel.

“As petrol prices skyrocket in the lead-up to Christmas – drivers are increasingly alarmed at the price of filling up,” she says.

“Australians are telling us that this increase in prices is going to impact a lot of families during these school holidays and may put an end to some of those planned road trips this summer.”

Importance of shopping around

Ms Browne says that with petrol prices sitting so high, it’s more important than ever for Australians to shop around for the cheapest fuel and leave the car at home when possible.

“Taking the time to find which petrol stations have the lowest prices can help you save quite a lot – there’s often quite a big price difference between the cheapest servo and most expensive even in the one neighbourhood,” she says.

“Use the apps that show where the cheapest fuel is in your area as these are updated regularly and can mean a price difference of up to 40 cents per litre.

Seek fuel efficiency

Ms brown also suggests those looking for a new car to seek a model with the best fuel efficiency.

Previous Finder research has found 45% of Australian drivers would consider an electric or hybrid vehicle for their next car.

“Many Australians are becoming increasingly climate-conscious, and drivers see EVs as a way to lower their carbon footprint,” Ms Brown says

“While electric vehicles are still more expensive to buy outright than petrol cars, as manufacturing costs fall they are becoming much more affordable and we are seeing more Aussies looking to make the switch than ever before.”

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