Petrol adding to household cost burden

The cost of living is rising, and it’s not just because avocados are expensive: fuelling your car is getting pricier, too.

It’s not just you: costs are rising, and chances are getting around the day to day is affecting your budget as well.

That’s the news coming in from the Australian Automobile Association (AAA), which has taken a look at the rise of transport costs over the past year in its quarterly Transport Affordability Index, revealing that the average Australian metropolitan household is spending $736 more on transport compared with a year ago, with the cost rising $172 from the prior quarter.

In the space of a year, that’s a cost difference of $17,485 to $18,221, though it’s an average that changes based on where you live.

If you live in Sydney, the AAA reports that you’re spending closer to $432 per week or around $22,445 per year, while Hobart sits at the lowest rate, managing $301 per week or $15,625 per year. Regional Australia is spending much less than every Australian capital city, with an average of $14,633 spent yearly on transport in regional Australia.

Some of the key points from these raises have come from where payments have risen, including a continued increase in fuel prices, insurance premiums rising, car loan payments going up, and a higher cost on tolls, not to mention roadside assistance costs. Even public transport has been hit with rising costs, occurring in Sydney, Adelaide, and Perth.

There have been some improvements, with cost falls in Sydney due to the NSW Toll Relief Scheme, which affected the cost of Compulsory Third Party Insurance, driver’s license fees, and vehicle registration. However while the cost has dropped in Australia’s largest city, it’s still fairly high, just behind Canberra and Perth for vehicle registration.

Compare car loans in Australia

Provider

Real Time Rating™Interest rate p.a.Comparison rate* p.a.Monthly repayment

6.57%

7.19%

$392

More details

Australian Credit Licence 488228

Fees & charges apply

Australian Credit Licence 488228

Fees & charges apply

New Car Loan - $5,000-$100,000

• Promoted
• $5k to $100k
• 1 to 7 years
• Fixed Rate
• Secured

6.57%

7.19%

$392

More details

Australian Credit Licence 488228

Fees & charges apply

Australian Credit Licence 488228

Fees & charges apply

Used Car Loan - No vehicle age limit - $5,000-$100,000

• Promoted
• $5k to $100k
• 1 to 7 years
• Fixed Rate
• Secured

6.52%

up to 18%

6.95%

$392

More details

Australian Credit Licence 364340

Fees & charges apply

Australian Credit Licence 364340

Fees & charges apply

New Car Loan

• Promoted
• Via broker
• $10k to $250k
• 1 to 7 years
• Fixed Rate

6.52%

up to 18%

6.95%

$392

More details

Australian Credit Licence 364340

Fees & charges apply

Australian Credit Licence 364340

Fees & charges apply

Used Car Loan

• Promoted
• Via broker
• $10k to $250k
• 1 to 7 years
• Fixed Rate

5.99%

up to 12.99%

7.20%

$387

Australian Credit Licence 233714

Fees & charges apply

Australian Credit Licence 233714

Fees & charges apply

Hybrid and Electric Car Loan

• $10k to $100k
• 1 to 7 years
• New or used car
• Fixed Rate

6.19%

7.61%

$388

Australian Credit Licence 234945

Fees & charges apply

Australian Credit Licence 234945

Fees & charges apply

Secured Green Car Loan

• $4k to $100k
• 1 to 7 years
• New or used car
• Fixed Rate

6.49%

up to 12.99%

7.69%

$391

Australian Credit Licence 233714

Fees & charges apply

Australian Credit Licence 233714

Fees & charges apply

Car Loan

• $10k to $100k
• 1 to 7 years
• New or used car
• Fixed Rate

6.49%

up to 10.49%

8.04%

$391

Australian Credit Licence 234945

Fees & charges apply

Australian Credit Licence 234945

Fees & charges apply

Secured Car Loan

• $4k to $120k
• 1 to 7 years
• New or used car
• Fixed Rate

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