When it comes to keeping an eye on prices, petrol stands out in a category of its own. Sure, staying abreast of grocery prices requires a bit of work – like checking the specials and catalogues each week. But if you’re a regular shopper at one major store, you can pick up on the special cycles pretty quickly.
Petrol cycles, on the other hand, are an entirely different beast. Just when you think you’ve ‘cracked the code’, the cycle takes a turn or drives off the road altogether! Certainly that’s been my recent experience. I recently filled up at what I thought was the bottom of a cycle (where petrol’s cheapest), only for the price to drop further. And then it dropped further, and further again.
This was far longer a cycle than I was used to. Was it a one-off aberration? No, according to the latest research from the Australian Consumer and Competition Commission (ACCC).
In a recent report, the ACCC said: “Our analysis shows that petrol price cycles have become longer in Sydney, Melbourne and Brisbane. From 2018 to 2023, the average duration of price cycles in these cities increased from around four weeks to around seven weeks.”
To read that was reassuring for me in one sense. At least I knew I wasn’t losing my mind! But this change in cycle lengths over time just adds another layer of complexity to the challenge.
Are there ways to stay ahead of the petrol price curve? That’s an important question for many Aussies still struggling through the cost-of-living crisis. Fortunately, the answer is yes, the ACCC says.
Solving the petrol price puzzle
Unsurprisingly, the key to staying ahead of that curve involves us using technology – specifically apps.
“In the current economic climate, finding savings is important to many motorists,” ACCC commissioner Anna Brakey said in August. “Using apps and websites to choose where and when to fill up can help consumers save money.”
In the first half of 2024, the ACCC found over 40 free-to-use fuel price apps and websites from various providers. If you’re like me, you might be thinking, “Oh great – another consumer app stealing my data for nothing in return.”
But there’s a bit more to it than that.
Firstly, some of those apps are not provided by the petrol retailers but by government agencies. It turns out that every Australian state and territory bar one has an enforceable price transparency scheme. Each requires retailers to report their retail fuel prices, usually within 30 minutes of a price change, the ACCC said.
“Data is then made available for apps and websites to display for consumer use. These schemes provide transparency of easily accessible retail fuel price information for consumers, that is comprehensive, timely and accurate to a large degree.”
That’s great – unless, like me, you live in Victoria, the only state that doesn’t have such a scheme. But the ACCC says there are still some useful apps to help Victorians save. “For Victorian motorists, the available fuel price apps and websites still provide useful information to shop around. However, most of the available services are not comprehensive (as they do not cover all retail sites).”
Retail apps
Another possible way to save on petrol could be to bite the bullet and download one of the retailers’ apps. As cynical as I am about phone apps, I’m willing to give one from a fuel retailer a go. I start with the retailer nearest my house in an inner Melbourne suburb, 7-Eleven. The My 7-Eleven app offers several benefits, according to the retailer.
The first: “Lock in our best local fuel price and you could save.” This presumably offers you the chance to freeze the fuel price for a period and pay the lower price even if the displayed price rises.
Second: “Search 7-Eleven fuel stores in your area to find our best local price on Mobil quality fuel. You could discover savings up to 25c per litre.” I have seen examples of this recently, with a 7-Eleven outlet a couple of suburbs away offering significantly lower prices.
Is all this petrol palaver worth it?
If you’re willing to put in a bit of extra time, there are fuel savings to be made. If you only fill up occasionally, that extra time might not be worth it. But if you’re regularly filling up the tank, you could end up making significant savings.
Do you keep a close eye on petrol prices? What tips and tricks can you share? Let us know via the comments section below.
I always check the fuel prices – once I get to 1/2, nearly half full, I regularly check fuel prices on an app at home (petrolspy.com.au) to see if it is worth buying – if yes then I will go and do my shopping, or whatever, at the same time.
Everything is so expensive, and getting worse for many-all things, so if a few dollars can be saved it’s a win for me.
I also use a fuel discount voucher or other e.g. RAA card to get a little extra ….. it all helps a little.
I always use the PetrolSpy App. Check for the lowest price, and also check the price at the RAA Discount Servo, and choose the lowest price. I fill up about once every fortnight, and filled up today after 816Km & 58Ltrs of fuel.
I have an app called ‘Fuel Maps Australia’ & the Fuel Check NSW one on my phone.
The reason for this is that the Fuel Maps Australia app doesn’t have Metro or APCO stations in Wagga on it any more. I don’t know why – it has both in Albury & Wodonga, but no prices in the app.
Currently, my Metro is 160.5 cpl whereas most other brands are over 170.9 cpl.
I only fill up when my tank is under 1/4, and this can be around 6-8 weeks between fills – I don’t drive that far to warrant filling up more often.
The Fuel Maps Australia also has a handy log book in it, which I use all the time.