A study by one of Australia’s peak motoring bodies claims the national average weekly cost of fuel has passed $100 for the first time on record, as household spending on transport rises to the second-highest point in history.
Australian households are spending more money on fuel than ever before, contributing to the second-highest weekly transport costs on record.
According to the Australian Automobile Association’s (AAA) Transport Affordability Index, national households paid a weekly average of $100.39 for fuel between April and June 2022 – a 26.4 per cent increase compared to the first three months of the year.
This is the first time Australian motorists have, on average, paid more than $100 per week on fuel since the peak motoring body’s index debuted in 2016.
At this rate, the average motorist will spend more than $5000 a year on fuel.
While national fuel prices have recently dropped below an average of $2 per litre, the fuel excise is due to return to 44.2 cents per litre at the end of September, having being halved to 22.1 cents per litre in late March as a part of the Federal Budget.
According to the AAA’s report, Australians spent 15.2 per cent of their household income on transport, as the national average weekly transport cost increased to $379.90 between April and June 2022.
This was an increase of $11.70 per week above the costs reported in the first three months of the year, although it is less than the $380.10 average weekly transport cost reported between October and December 2021.
Transport costs were up across all measurable categories between April and June this year, with motorists paying more for registration/CTP/licensing, servicing/tyres, insurance, roadside assist, public transport and tolls.
Car loan payments continue to be the most expensive transport cost incurred by Australian households, rising by 40.4 per cent from the first three months of the year, to $153.30 per week from April to June 2022.
While this is $16.78 less than the record weekly high of $170.08 in the October to December report of 2021, it is the biggest jump between three-month periods in the seven-year history of the index.
Australia’s capital cities remain the most expensive locations for transport, with a national average of $412.21 per week spent on transport expenses in metropolitan areas.
Sydney is the national leader with an average weekly cost of $486.18, followed by Melbourne ($461.01) and Brisbane ($454.51).
Although Australia’s regional households reportedly spend about $70 less on transport than those in the capital cities – $342.98 per week – Alice Springs experienced the largest cost increase of any town on in the latest index.
The Northern Territory’s remote hub’s average transport costs increased by $20.14 per week from the first report at the conclusion of March 2022 to the second report which covered April to June 2022 – more than any other capital city or regional town in the index.
The AAA’s Transport Affordability Index is based on modelling developed by SGS Economics and Planning, assuming an average Australian household consists of a 38-year-old woman and a 36-year-old-man, each driving a car for approximately 14,000 kilometres per year.
Average Weekly Transport Cost – Australian Capital Cities
| City, state | Average cost per week |
| Sydney, NSW | $486.18 |
| Melbourne, Victoria | $461.01 |
| Brisbane, Queensland | $454.52 |
| Canberra, Australian Capital Territory | $393.60 |
| Adelaide, South Australia | $383.02 |
| Perth, Western Australia | $380.42 |
| Darwin, Northern Territory | $377.83 |
| Hobart, Tasmania | $361.13 |
Average Weekly Transport Cost – Australian Regional Towns
| Town, state | Average cost per week |
| Alice Springs, Northern Territory | $370.59 |
| Bunbury, Western Australia | $362.85 |
| Geelong, Victoria | $361.53 |
| Mount Gambier, South Australia | $344.80 |
| Launceston, Tasmania | $335.36 |
| Townsville, Queensland | $318.18 |
| Wagga Wagga, New South Wales | $307.55 |
The post Australian fuel costs rise to more than $100 per week for the first time on record appeared first on Drive.
0 Response to "Australian fuel costs rise to more than $100 per week for the first time on record"
Post a Comment