“Fuel Now”: Aussie drivers are encouraged to hit the pump before prices skyrocket
Motorists are being urged to “fill up now” as they prepare for the end of the excise duty cut and the soaring gas prices.
The fuel excise tax cut is due to end on September 29, with the government saying it will not extend it.
But many are calling for it to continue, with the National Retail Association (NRA) saying high gasoline prices will have disastrous effects on supply chains.
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“Our retailers are being impacted by a whole host of increases across the board and of course the supply chain is among those directly affected by fuel costs,” NRA chief Dominique Lamb told NCA NewsWire.
“Anything the government can do to support these industries that are part of our ecosystem is incredibly important because you have to consider that in a country like Australia most of our cargo is on the road.”
There is also concern that if Aussies cannot afford fuel, they will cut back on their retail and hospitality spending.
“There’s no doubt that consumers are starting to tighten their belts, especially when it comes to discretionary spending,” Lamb said.
“Consumers are spending more on essential groceries and fuel, but the declining numbers are coming from these discretionary items and other categories in this non-essential part of the market.”
Lamb said amidst inflation, interest rate hikes and rising fuel and electricity costs, consumers are changing their spending habits.
“It’s probably just something else that we don’t need. We don’t want people to limit what they spend their money on, where they go or what they want to do.”
Warren Reynolds, executive chairman of MuzzBuzz, a drive-through coffee chain, said, “It’s there in black and white when fuel prices go up and customer numbers go down.”
“People make calculated decisions about how often they can afford to drive and exactly where they drive and where they drive.”
According to Reynolds, this change in consumer behavior is having a significant impact on businesses.
“For some customers, this means traveling only for essentials and avoiding unnecessary trips to retailers – whether it’s visiting their favorite coffee shop or shopping at the mall.”
He said returning fuel excise taxes to their normal rates was “destructive to the broader economy”.
“If households are already struggling with the current fuel prices, it makes no sense to add another 22 cents per liter at the end of the month,” he said.
Fill up now
Australian motorists are being urged to take advantage of falling petrol prices and fill up now to make the most of “the lowest levels we’ve seen in a while” before it’s too late.
In August, NRMA spokesman Peter Khoury said Australia was nearing the bottom of the price cycle but warned it could soon bounce back.
“They’ve been falling in line with the price cycle for several weeks now, but they’ve definitely fallen to levels we haven’t seen in a while,” he told 7NEWS.
“We’re almost at the end of the cycle,” he explained.
“But we also know that oil prices have fallen steadily since reaching the peaks we saw in June.
“In mid-June, the average for lead-free lead in Sydney was $2.19. It is now at $1.62. That gives you an idea of how much oil prices have fallen.”
While motorists will welcome the relief at the pump, it’s not clear how long it will last, according to Khoury.
“The falls are very volatile … we have no idea if they will continue over the long term,” he said.
“What we do know is that it’s been pretty consistent for the past two or three weeks, mostly driven by worries about the global economy.”
While it took about 50 days for prices to fall that low, Khoury said it would only take a few days for them to bounce back.
“That’s just the unfortunate reality of price cycles nationally, that when they’re falling, they’re going down very slowly, and when they’re jumping, they’re absolutely going up,” he said.
“So sometime in the coming days, possibly later this week, we will see the price cycle turn. And that’s why it’s really important for (motorists) to fill up today or tomorrow.
“Keep your eyes very close because you’ll see many gas stations are under $1.60.”
According to Kheary, when motorists will see cheap prices again depends on how long the next cycle lasts.
From Saturday afternoon you will find the cheapest petrol in your postcode here.
Real-time petrol price tracker PetrolSpy says Ultra Petroleum is offering $142.9 in Manly.
TEMCO Petroleum in Greenacre offers the second cheapest at $143.8.
Metro Petroleum in Carlton and United Fitzroy offer the lowest prices at $147.9 and $148.9 respectively.
An unleaded tank will be cheapest at Grange Auto Care for $149.5, followed closely by Ampol Enoggera or Puma Enoggera, both offering deals for $149.7.
Motorists can find petrol available in Adelaide at Liberty Nailsworth for $141.5 or Liberty Camden Park and Beverly for $143.5.
Motorists will get the most bang for their buck at Vibe stations in Welshpool and Ascot, where prices start at $147.3.
The second cheapest is also in Welshpool where Atlas Fuel is offering $147.5.
Prices in Canberra haven’t fallen as low as the rest of the country, with the cheapest at $162.7 at Ampol Majura Park, followed by $177.9 at the 7-Eleven Braddon.
Drivers in Darwin face the most expensive prices, with FuelXpress Winnellie offering the cheapest deal at $173.5.
United locations in Darwin (Smith Street), Parap, Ludmilla, Bagot Road (Coconut Grove), Winnellie Roadhouse, as well as BP Winnellie and Coconut Grove, Ampol Darwin International Airport and Berrimah all offer fares from $179.5.
United gas stations in Lutana, Hobart North, Wentworth (Howrah) and Bellerive (Tasman) all offer gas for $168.7.
https://7news.com.au/lifestyle/personal-finance/fill-up-now-aussie-drivers-urged-to-head-to-the-petrol-pump-before-prices-skyrocket–c-7801045 “Fuel Now”: Aussie drivers are encouraged to hit the pump before prices skyrocket