The plunging Aussie dollar is having a major impact on fuel prices … and on the cost of taking the Big Lap around Australia.
Grey nomads will have already felt the pain at the bowser as they keep their motorhomes, 4WD’s and campervans on the move. In Perth and Adelaide, some service stations have seen price rises of up to 20c a litre for unleaded fuel … and the worst could be yet to come.
A number of industry analysts say we could soon see prices of $1.70 per litre or more for unleaded petrol. They say that could happen if the Aussie dollar – which recorded a 33-month low against the US dollar at the beginning of this month – continues to fall.
The fuel price issue has been exacerbated by continued political instability in Egypt which has resulted in surging oil prices. Late last week, oil reached a 15-month high of US $104 a barrel.
The last time unleaded petrol reached $1.70 per litre was in 2008, when the Australian dollar was 96 US cents but oil was pushing US $150 a barrel.
Although diesel doesn’t really operate on the same price cycle as unleaded petrol, the same economic and political factors will be in play … and that means significantly higher diesel prices, too.
Joe Fitzgerald from Queensland’s RACQ says the price of diesel and unleaded had already increased in regional centres and was expected to rise in other key centres in the next month.
Despite the rising concern among budget-minded grey nomads, the NRMA says it’s not time to panic quite yet.
The New South Wales motoring organisation says an increase to $1.70 for unleaded would only be possible if the Australian dollar fell to 78 cents … a fall which it says is unlikely.
Watch this space.
Have you noticed a big difference in fuel prices where you are? How do you keep on budget when fuel prices rise? Do you travel slower? Do you spend more in one shop at the big supermarkets to take advantage of discount vouchers? Comment below.
can’t say we didn’t know what was coming..I will only be hanging around Victoria from here on in…Diesel price is disgusting I feel this is going to have a terrible effect on most towns around the country
Gray Nomads seem to have be able to afford huge late model caravans with all the mods and cons and new large Tow vehicle full of accessories and free camp most of the time so a few more cents shouldn’t affect them. They will just have to give up the beer, smokes and pokies.
Will not give up me beer and smokes, well don`t play the pokies anyhow this old Grey Nomad Doesn’t have a late model vehicle but do have most of the mod cons which we have done ourselves, so we will just have to stay longer whilst free camping and then move when we have saved for this extra cost on fuel, sounds alright to me.
If fuel costs are going to be an issue, then one needs to find and budget accordingly. Shop for specials, travel less distances over a greater period of time, economise if necessary. But if you are going to whinge too much, then best you stay home. There are many people out there doing it tough and they don’t have the benefit of a motorhome or caravan.
stop fuel vouchers price went up 15c on gold coast have to spend 100 dollars to get voucher .normal 30 dollars gets 4c voucher empty 100 ltr tank thats 4 dlrs .50ltrs is 2 dollars.keep all outlets on par and stop the vouchers .accc want it stopped.