SOARING fuel prices are burning a hole in motorists’ pockets more than any time in the last 25 years, pushing up the cost of filling a standard car by more than $20 in three months.
Melbourne and Brisbane are leading the price hikes with petrol peaking at around $1.47 per litre this week, while regional areas felt less pain with average prices under $1.40.
Interestingly, diesel prices have remained much lower – selling for well under $1.30 at most outlets across Melbourne and Sydney.
For drivers of petrol cars, the price rises are the biggest over a three-month period since 1990 and reflects the jump in Singapore crude oil prices from about $US50 to more than $US85 a barrel.
This contrasts starkly with January this year when prices were plummeting in major capital cities towards $1 a litre.
Meanwhile, LPG prices remain low, averaging around 51 cents a litre at most outlets in Melbourne, with the cheapest prices falling below 50 cents a litre, while Sydney LPG pump prices are pegged at 57.9 cents per litre
As new cars become more efficient, volatile fuel prices and the vast number of locally built and imported new and used cars on the market give motorists more reasons than ever to think about updating their car to suit their needs.
Cars Guide recently released a list of the most miserly cars on the market in most categories.
If you’re not quite ready to change your car, read our Top 10 Tips for Reducing Fuel Consumption.