Live petrol price information is saving NSW motorists up to $6 a tank
EXCLUSIVE: New South Wales motorists are saving up to $6 per tank of fuel as a result of live petrol price data, which is controversially denied to South Australian drivers.
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NEW South Wales motorists are saving up to $6 per tank of fuel as a result of live petrol price data, which is controversially denied to South Australian drivers.
The NSW government last year forced fuel retailers to publish real time price fluctuations at bowsers online, allowing motorists to shop around for the best deal.
It led to a dramatic drop in fuel prices, falling from the third-highest of all capital cities to the second-lowest.
Monitoring in all Australian capitals by each state’s peak motoring organisation before and after August last year — when real-time pricing was forced on Sydney retailers — shows significant savings for NSW motorists.
Sydney’s weekly fuel budget of $59.98 has risen a modest $4.64 since the introduction of real-time pricing.
Sydney is now the second-most economical capital to buy fuel. In contrast, Darwin had the highest rise, of $10.85.
RAA spokesman Mark Borlace said the system would provide cost-saving benefits to SA motorists.
“There is a trend in Sydney that can only be explained by people being able to see the price,’’ he said.
“There are no additional players and no cheaper oil — the same cost pressures, but new market behaviours.
“The only change has been new pricing transparency.’’
The State Government has stood fast against lobbying by motoring bodies for funding for live-pricing, despite a finding from Attorney-General John Rau’s own department that the extra competition would drive prices down.
In SA motorists can only see prices in bands. For example yesterday eight petrol stations were charging more than 134.9 cents per litre and the remainder in Adelaide between 135.0 cents and 139.9.
The Advertiser revealed in February that the Office of Consumer and Business Affairs had briefed Mr Rau that allowing motorists to access real-time data pushed down prices.
In a briefing note last year, which explained the benefits of the system, the consumer body stated: “While not all petrol outlets are covered in the fuel price search sites of apps in states with voluntary price reporting, there appears to be sufficient (information) to provide competitive pressure on prices’’.
Mr Rau would not comment.