Blog Fuel price predictions for summer

Fuel price predictions for summer

23 November 2020
Fuel price predictions for summer

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With summer fast approaching and overseas travel out of the question, many of us will look to our vehicles to take us somewhere sandy and salty, or homeward bound for Christmas. But how much could that cost you at the bowser? We give you the answer, as well as how to reduce your fuel consumption, and greener alternatives.

Fuel price predictions for summer

Fuel prices typically fluctuate in cycles, with the total length of these cycles ranging from a low of 13 days to a high of 38 days in 2019, according to the Australian Competition and Consumer Commission (ACCC). Each capital varies in cycles and prices so we’ve broken it down to make it easier. It’s important to note these are only estimates, with fuel prices driven by a number of factors. Each estimate is for regular unleaded petrol, except Sydney, which shows E10.

Sydney

The start of November saw Sydney fuel prices just start to come off a low point of just under 110c/L. Expect prices to increase throughout November and peak around 135c/L in the first week of December. Prices are likely to dip following this and then increase again for the Christmas and New Year period.

Melbourne

The start of November saw Melbourne fuel prices coming off a peak of almost 145c/L. Expect prices to dip through the month before peaking in the last week to around 145c/L. Expect this cycle to repeat itself before peaking for a more prolonged period around the Christmas and New Year period.

Brisbane

The start of November saw Brisbane fuel prices just start to come off a low point of just over 110c/L. Expect prices to increase throughout November and peak around 145c/L at the end of the month. Expect this cycle to repeat itself before peaking for a more prolonged period around the Christmas and New Year period.

Adelaide

Adelaide has a short fuel cycle compared to the previous three capitals, usually only last around two weeks. The start of November saw Adelaide fuel prices just start to come off a low point of 110c/L. Expect prices to spike to 140c/L a week later before dipping back to 110c/L. This cycle should continue through to December, where it’ll be a more prolonged expensive spike around the Christmas and New Year period.

Perth

Perth has an even shorter cycle than Adelaide, only lasting a week. The start of November saw Perth fuel prices at a low of just under 105c/L. Expect prices to spike a few days later to around 135c/L before dipping back down a few days later. This cycle should continue through to December, where it’ll be a more prolonged expensive spike around the Christmas and New Year period.

How to spend less on petrol 

Here’s our top tips on how to spend less on fuel:

  • Research: Keep note of news reports and online resources which inform you of what point in the fuel cycle you are and where is cheapest in your neighborhood. Consider using a petrol-tracking app.

  • Don’t wait until your empty: Filling up before you’re about to break down means you can pick and choose where to fill up and get the best deal.

  • Use ethanol blends: If your car was made later than the 1990s, it should be suitable for ethanol blends. These blends are usually cheaper than normal petrol.

  • Go easy on the accelerator: Not revving your car and going pedal to the metal can conserve petrol. Turning your air-con down or off also reduces fuel consumption.

  • Walk/public transport: An obvious one but walking costs zero fuel, as does taking the bus or train!

Consider a green car

A green car can be a great way to save on petrol and reduce emissions. What you may not know is we’ll also reward you for buying a green with a discounted interest rate on your car loan.

If your car is one of the following it's likely to qualify for a discounted rate:

  • A new or demonstration vehicle

  • More fuel-efficient than average for a car of its size

  • A hybrid vehicle

With a green car you can get a 0.7% discount on your car loan and take advantage of a fixed rate of 3.97% p.a. (4.51% p.a. comparison rate).

If you’re reluctant to go electric or hybrid for cost reasons, for range anxiety reasons, or for practicality purposes, then you can buy one of these ten cars and still get the discounted rate.

Get pre-approved for a car loan