For many Australians, road trips represent the best way to holiday.
For one, our backyard is so wide and full of wonder. Secondly, driving allows us to travel where we like, when we like - don’t like the look of that town? Take the next road...
Then there’s the opportunity to bond with your family. Perhaps most importantly, the road trip is, or at least can be, significantly cheaper than a flyaway holiday.
But a new report by the Australian Competition and Consumer Commission (ACCC) on the Aussie petroleum market shows that retail fuel prices in the five largest cities increased “significantly” in the second quarter of 2018, making the idea of a road trip holiday slightly less appealing.
In fact, at 145.2 cents per litre (cpl), the report found that the 2018 June quarter average price for petrol was, in inflation-adjusted terms, the highest price in nearly four years.
With fuel up nearly 10 cents per litre from the March quarter (135.5 cpl), “daily average prices (on a seven-day rolling average basis) in the five largest cities [Sydney, Melbourne, Brisbane, Perth and Adelaide] moved within a range of around 16.0 cpl—from a low of 138.0 cpl to a high of 153.7 cpl”.
According to the report, the annual average retail petrol price in our largest cities in 2017–18 was 134.5 cpl, which was 11.9 cpl higher than in 2016–17 (122.6 cpl).