Aussie drivers are urged to shop smart for petrol as the gap between the cheapest and most expensive fuel types reaches a record high in the wake of the restoration of the full fuel excise.
From midnight overnight, the excise increased by 17.1 cents to 52.1 cents per litre, ending in full the discount that had been triggered by the US-Iran war in April.
The difference between most and least expensive fuels has reached a record high. iStock
NRMA analysis predicted the wholesale price for regular unleaded to rise today to 201.5c/L and 243c/L cpl for diesel.
The national average for regular unleaded at the pump today is 197c/L, compared to 239.2c/L for diesel.
As prices rise, the NRMA is also urging Australians to consider filling up their tanks with less expensive fuel types, if their vehicles allow it.
The organisation found the price gap for unleaded, between E10 on the cheap side and Premium 98 on the dear side, had reached a record 26.5c/L, up from 17.4c/L in 2012.
Between E10 and Premium 95 the cap is 19.1c/L (compared to 13c/L in 2012) and between regular E10 and regular unleaded is 1.8c/L (unchanged from 2012).
Today, the NRMA found, the gap between the two extremes was a whopping 30.5c/L - an almost $17 difference between a standard 55-litre tank of E10 and a tank of Premium 98.
NRMA spokesperson Peter Khoury said with the excise returning in full today and no end in sight to the Iran war, Australians would be especially focused on the price of fuel at the bowser.
“With the excise going up today and the war continuing find smart ways to save at the bowser remain critical for many Australians struggling with cost-of-living pressures,” he said.
“Not paying premium prices for premium fuels of you don’t have to is a great place to start.”
He urged drivers to always follow manufacturer advice as to the type of fuel to use in their vehicle.
People could be saving money on their fuel. Getty
“We also know most vehicles in Australia are E10 compatible so it’s vital they know they have that choice and can save up to $17 on a tank of petrol,” Khoury said.
“Almost 60 nations worldwide have ethanol mandates, including the United States, and given Australia’s bio-fuels are produced across regional Australia, supporting this industry is an effective way to boost jobs regionally and reduce our dependence on imported oil – and it’s cheaper.”
