Fuel prices are heading up again but there are ways to save

The fuel excise holiday may be over but shopping around and seeking out other savings will help reduce the cost of running your car.

Groans from motorists about rising fuel prices will be heard around the nation now the full fuel excise has returned.

Petrol prices will soon increase by more than 25c a litre, following a six-month period when the excise was halved. The rise will add $15 to the cost of a 60-litre tank.

But NSW residents should not see higher prices flowing through to bowsers straight away, according to NRMA spokesman Peter Khoury.

“Service stations will already have existing fuel in their tanks which was purchased at the reduced rate … they are to sell that before they increase the cost,” he says.

Record high prices – largely due to the impact on world supply from the war in Ukraine – saw petrol peak at $2.19 a litre in June ($120.45 for a 55-litre tank), compared with $89 now.

Sydney motorist Michaela Barnett says her living expenses have been rising steadily. Picture: Gaye Gerard

Michaela Barnett, 25, says the high fuel costs have added significantly to her living expenses.

Earlier this year, she drove 40 minutes from her Bankstown home to her Bella Vista office every day, spending on fuel and tolls.

“Before the rise, I would easily spend $50 for a full tank of fuel … it now costs me upwards of $80 for a full tank,” she says.

“I can’t afford to pay such high prices for fuel and pay tolls. I don’t know what would be cheaper, paying for an Uber or fuel.”

While searching for the best-priced fuel can be draining, it is one way to save.

Khoury says NRMA members can download the my nrma app to find cheap fuel prices along with other discounts and benefits.

“Anywhere across NSW you can get the price of petrol in real-time through the app,” he says. “If you do your research before you fill up, you’ll find a bargain.”

Finder money expert Sarah Megginson says loyalty programs can also help you save.

“If you have to spend money on petrol, you might as well get rewarded for it with points. BP Rewards, Flybuys and Everyday Rewards also let you redeem points for cash off your fuel spend,” she says.

While the savings per litre vary, 7-Eleven’s Julie Laycock said some savvy customers have been able to maximise their savings potential.

“The My 7-Eleven App Fuel Price Lock feature allows our customers to search for the best price at the five closest 7-Eleven stores to their current location, and then to lock that price in to use at any 7-Eleven fuel store in Australia for the next seven days,” she said.

Sarah Megginson, senior editor of home loans at Finder. Picture: Supplied.

Barnett says the Service NSW savings finder apps have also been useful.

“I use the Service NSW FuelCheck app to find the cheapest fuel locations nearby … it saves me travelling aimlessly looking for the cheapest servo and wasting even more fuel,” she says.

The Service NSW Savings Finder has more than 70 rebates and vouchers which can be used for expenses including household energy and utilities, transport, raising children, experiences and accommodation.

For example, the Toll Relief tool helps frequent toll road users save on their registration costs who reach the minimum spend, while the FuelCheck app can find the cheapest fuel in your area and across NSW.

Customer Service and Digital Government Minister, Victor Dominello, says FuelCheck users report savings of up to $800 per year.

For more information, visit service.nsw.gov.au

HELPING YOU SAVE

Some of the rebates and vouchers for NSW drivers:

● NRMA’s Free2Go: Free roadside assistance for drivers aged 16 to 20.

● CTP Green Slip Savings: Drivers could automatically save on their Green Slip premium.

● M5 cashback scheme:

Claim back the cost of tolls paid (ex GST) while using the M5.

● Fair Go for Safe Drivers: Drivers with a good record could save 50 per cent on their licence renewal fee.

Originally published as Fuel prices are heading up again but there are ways to save