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Fuel price hikes costing Canberrans an extra $274 a year

By Glynis Quinlan - 26 May 2017 0

Petrol pricing

The typical Canberra family pays out $16,268 each year in household transport expenses with fuel costs increasing by $274 per year according to the latest data released by the Australian Automobile Association.

The latest Transport Affordability Index for the quarter up to March 2017 shows that Canberra had the third highest rise in fuel costs behind Darwin (a $306 annual increase) and Hobart ($306).

The city’s fuel costs have increased by $62 above the national annual price rise and by $129 more than Brisbane’s annual fuel price rise.

ACCC Chief Executive Michael Bradley said fuel was the number one contributor to the national increase in transport costs over the quarter to March 2017.

“The fact Government fuel excise increased to more than 40 cents a litre for the first time from 1 February 2017, means the average family now pays $1,035 in fuel excise each year,” Mr Bradley said.

“Public transport was also another cost that increased significantly due to fare rises in Melbourne, Hobart and Canberra.

“Other increased costs faced by the average family included tolls, new car servicing and new car prices which had a flow on impact on car repayment costs.

“The increasing costs borne by households for land transport highlights the need for all governments to develop policies and make infrastructure investments that will make transport more affordable.”

The Transport Affordability Index report states that Canberra is the fifth most expensive capital city in Australia in terms of household transport costs, which make up 11 per cent of household income for the hypothetical Canberra family (a couple with children and two cars).

Total costs increased by $350 per year over the quarter to March 2017 due to price rises in fuel, public transport, car loan repayments, servicing and tyres. Public transport costs increased by around $42 per year due to increases in fares.

“Canberra was the most expensive capital city for car loan repayments due to the slightly higher cost of buying a car. It also recorded the second highest costs for registration and licensing, and third highest costs for fuel,” the report stated.

“Canberra has relatively affordable public transport which is the third most affordable in the country, which cost $498 per year less than the national average.”

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