Australian drivers’ fuel costs hit $100 a week

The average weekly fuel cost for Australian motorists has hit $100, after rising an extra $5 a week over the course of the past three months, according to new figures.

The Australian Automobile Association’s latest Transport Affordability Index, released on Sunday, shows average weekly fuel costs across the nation rose to $100.39 in the June quarter.

Typical weekly household transport costs, which take into consideration average weekly spending on fuel, car loan repayments, tolls, insurance and servicing, as well as public transport, also grew by $11.74 in capital cities in the first quarter to $412.21 and $342.98 in the regions.

The fuel costs factor in the temporary halving of the fuel excise rate, inflation running at 6.1 per cent annually and global price shocks stemming from the war in Ukraine.

Michael Bradley, managing director of the peak motoring body, said it was the first time the national weekly fuel cost average had passed $100 since the index’s inception in 2016.

“Despite the temporary excise cut, fuel prices are rising and continue to be a significant contributor to cost of living pressures across both regional and metropolitan Australia,” he said.

Average fuel costs were $98.37 per week across the nation’s capital cities, including $99.13 in Sydney and $97.29 in Melbourne.

The average weekly cost across the regions was $102.71, with motorists in Bunbury ($122.70), Geelong ($118.31) and Launceston ($114.67) the hardest hit, according to the index.

The 22-cent cut to the fuel excise is due to end next month. The federal government has indicated it won’t be extended.

The national average for petrol prices fell to 173.6 cents a litre last week, its lowest point since Easter.

Sydney remains Australia’s most expensive capital city for transport costs, averaging $486.18 per week, followed by Melbourne ($461.01) and Brisbane ($454.52).

AAP

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